On June 20, 2017, the Israel Securities Authority (“ISA”) raided Bezeq’s offices on suspicion of securities law violations by Bezeq’s chairman and majority shareholder, Shaul Elovitch (“Elovitch”). Particularly, the ISA said that it is investigating possible misconduct “with regards to transactions related to the controlling shareholder.” Additionally, an Israeli business journal stated that the ISA is investigating the merger of Bezeq’s television unit with its parent company, and payments the unit made to Eurocom, an Elovitch controlled company, under pressure from Elovitch. Following this news, Bezeq American Depositary Receipts dropped $0.37 per share, or 4.12%, to close at $8.61 on June 20, 2017.
If you are aware of any facts relating to this investigation, or purchased Bezeq shares, you can assist this investigation by visiting the firm’s site: www.bgandg.com/bzqiy. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
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