LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation on behalf of Bank Hapoalim B.M. ("Hapoalim" or the "Company") (OTC: BHKYY) investors concerning the Company and its officers’ possible violations of federal securities laws.
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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, the price of the Company’s American depositary receipts (“ADR”) fell $1.09 per ADR, or over 3%, to close at $33.16 per ADR on March 11, 2019, thereby injuring investors.
Then, on April 30, 2020, the United States Department of Justice announced that the Company “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.
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If you purchased Hapaolim’s ADR, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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