NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Bank Hapoalim B.M. (OTC: BKHYY) resulting from allegations that Hapoalim may have issued materially misleading business information to the investing public.
On March 7, 2019, Hapoalim issued a press release announcing that the bank was increasing its provision “in relation to the exposure stemming from the investigations of the U.S. authorities, by approximately USD 246 million” for an aggregate total provision of $611 million. On this news, Hapoalim’s American depositary receipts (“ADR”) fell $1.09 per ADR over the next two trading days, or over 3%, to close at $33.16 per ADR on March 11, 2019, damaging investors.
Then, on April 30, 2020, the United States Department of Justice announced that Hapoalim “agreed to pay approximately $874.27 million” as part of its deferred prosecution agreement for criminal misconduct. On this news, Hapoalim’s ADR price fell during intraday trading.
Rosen Law Firm is preparing a securities lawsuit on behalf of Hapoalim shareholders. If you purchased securities of Hapoalim please visit the firm’s website at http://www.rosenlegal.com/cases-register-1850.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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