LOS ANGELES, CA / ACCESSWIRE / August 25, 2017 / Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against B Communications Ltd. ("B Communications" or the "Company") (BCOM) for possible violations of federal securities laws from November 7, 2013 through June 19, 2017, inclusive (the "Class Period"). Investors who purchased or otherwise acquired B Communications shares during the Class Period should contact the firm by the August 28, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or e-mail him at firstname.lastname@example.org.
No class has been certified in the above action yet, and until a class is certified, you are not considered to be represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, throughout the Class Period, B Communications made false and/or misleading statements, and/or failed to disclose that: Mr. Shaul Elovitch, the controlling shareholder of Bezeq and B Communications, engaged in illegal conduct concerning the Bezeq-YES Merger; that discovery of this conduct would subject the Company and/or Bezeq to heightened regulatory scrutiny and potential criminal sanctions; and that as a result of the above, the Company's public statements were materially false and misleading at all relevant times.
On June 20, 2017, The Times of Israel reported that the Israel Securities Authority ("ISA") raided the offices of Bezeq and detained Shaul Elovitch. The ISA said that it was investigating "suspicions of violations of the securities law and the penal code relating to transactions connected to" Mr. Elovitch. The Israeli publication Globes reported that the ISA is investigating the Bezeq-Yes Merger, as well as payments the unit made to Eurocom under pressure from Mr. Elovitch. Following this news, B Communications' share price lowered materially, which caused investors harm according to the lawsuit.
Lundin Law PC was founded by Brian Lundin, Esq., a securities litigator based in Los Angeles dedicated to upholding shareholders' rights.
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SOURCE: Lundin Law PC