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Pi-Cardia Ltd. Raises USD 27 Million in Financing Round Led by Sofinnova Partners
Pi-Cardia, an Israel-based global leader in developing non-implant catheter-based solutions to treat heart valve calcification, has raised USD 27 million in funding. The round was led by our client, European life sciences venture capital firm Sofinnova Partners, with participation from Pi-Cardia’s chairman, Prof. Jacques Séguin, and existing investors. Adv. Micky Barnea and Adv. Ariella Dreyfuss represented Sofinnova Partners in the transaction.
Mobileye Insider Trading Investigation: Representing Former Syneron VP in Settlement with SEC
On April 17, the United States Securities and Exchange Commission dropped its case against our client Amir Waldman. Waldman, the former vice president of Israel-based medical device company Syneron Medical Ltd., was alleged to have made USD 4.3 million via insider trading on an autonomous driving system technology developer. He will pay the SEC nearly USD 2.2 million to end a civil enforcement lawsuit, a New York federal district judge announced Friday. We commented on the decision: "As in many cases, here too, a negotiation was being conducted at the same as we were preparing for trial, and it ultimately ended with an excellent result. This is a civil not a criminal case, and the arrangement, under which Amir does not admit or deny the facts, allows Amir to move on."
Habima Theater – The Show Must Go On?
Our Litigation Department is representing the board of directors and active management of Habima Theater in liquidation proceedings filed by the company's creditors and in legal proceedings directed by the company's temporary trustees.
Israel Capital Markets Authority Adopts Adv. Zohar Lande’s Strategy to Rescue Corporate Market
Dr. Moshe Bareket, the Director General of the Israel Capital Markets Authority, has proposed postponing payments, by deferring or replacing debt in order to raise interest rates to bypass a debt settlement, as part of a rescue plan for the corporate market. His proposal is largely based on the method presented by Adv. Zohar Lande, the head of our Litigation Department, in an op-ed published earlier this week.
Israel’s Tax Agency Criticized for Tepid Response to Coronavirus
Adv. Harel Perlmutter was interviewed by Tax Notes International following criticism that the relief measures introduced by the Israel Tax Authority in response to the coronavirus pandemic do not provide sufficient support for taxpayers.
Jump TAU Jewish-Arab Accelerator Program Demo Day
Adv. Yuval Lazi participated today in the demo day of the Jump TAU Jewish-Arab Accelerator Program. In light of the coronavirus pandemic, the meeting took place online.
Hosting Online Seminar for Israel Hedge Funds Association Members
Together with Lior Segev, the co-founder and CEO of Liquant Asset Management, we hosted an online seminar for members of the Israel Hedge Funds Association on business continuity planning during the coronavirus.
Article: Bond Market Rescue – Debt and Interest Restructuring
The coronavirus crisis is affecting share prices as well as corporate bond prices and yields. In an article for Bizportal, Adv. Zohar Lande argues that the Israel Securities Authority should establish a “fast-track mechanism” allowing companies that meet specified criteria to opt into a debt restructuring arrangement.
The Corona Effect: Q&A on Real Estate
As experts in the real estate field, our firm was interviewed about Globes about the use of the force majeure clause in real estate contracts We noted, "The law does not have a uniform definition of what a force majeure event is and interpretation is made in accordance with previous rulings.”
Israel Land Authority Says Appeals Committee Decision Only to Be Considered Recommendation
Adv. Hagit Ben Moshe was interviewed by TheMarker following the Israel Land Authority’s declaration that the Appeals Committee’s decision will only be considered a recommendation and not an obligation. Hagit commented that “this decision could have far-reaching impact.”
Podcast on Rights of Employees in Home Quarantine or on Unpaid Leave
A podcast featuring Adv. Lee Alter discusses the rights of employees in home quarantine or on unpaid leave due to the coronavirus pandemic
Coronavirus: Is a Huge Wave of Debt Arrangement on the Way?
Adv. Micky Barnea was interviewed by Globes on the coronavirus’ effect on both the corporate and government bond markets.
Li Wenliang Was Not a Snitch – Adv. Michael Barnea
Li Wenliang was one of the first doctors to warn about the coronavirus outbreak and paid a personal price for speaking out. In Hebrew, people like Li are often described as “information leakers” at best and “snitches” at worst. The distinction frequently depends on perspective: one person’s whistleblower is another person’s snitch. In an article published by TheMarker, Adv. Micky Barnea explores how the language used to describe whistleblowing shapes attitudes toward it. He argues that organizations should use language that recognizes the value of speaking up and encourage employees to report concerns through internal channels.
The Gender Pay Gap and the Even Bigger Gender Pension Gap: Women's Status in the Labor Market
Adv. Netta Bromberg was interviewed by Mako in honor of International Women's Day to discuss women's status in the labor market.
Adv. Ariella Dreyfuss Featured in Article on Femtech Market
2019 was a record year for femtech (female technology), a term generally applied to a category of software, diagnostics, products, and services that use technology to focus on women’s health. As this is one of the most growing markets in recent years, Adv. Ariella Dreyfuss was asked by Start-Up Nation Central to discuss the challenges and potential in the market. In an interview, Ariella commented that "femtech is essentially a palatable term, a euphemism, to describe tech products and services in the field of female health: digital health apps, consumer health tech products, and medical devices that address menstruation, menopause, fertility, breastfeeding, incontinence, contraception, and female cancers.”
Firm Partners Lecture at TAU Entrepreneurship Center
As part of the firm's collaboration with Tel Aviv University's Entrepreneurship Center, we were invited to lecture students on the relevant legal aspects of entrepreneurial activity. We discussed the basics behind founders’ agreements and why it's important to make such an agreement. Adv. Yuval Lazi explained the methods, possibilities, and challenges of venture capital raising, from family and friends to exits. Adv. Anat Even-Chen concluded with a lecture on online business activities, including what website policies should contain and how to build a business correctly so as not to be exposed to privacy issues.
Article: Snapshot of the Israeli Fintech Scene
Adv. Simon Jaffa take a look at the challenges and opportunities in the Israeli fintech sector in this short article.
Representing MAT Investment Holdings in Merger between Two Manufacturers of Control Valves from Kibbutz Industry
Our firm represented the Spanish multinational industrial group MAT Investment Holdings in the merger of its Israeli subsidiary Dorot Management Control Valves from Kibbutz Dorot with A.R.I. Flow Control Accessories, a company owned indirectly by Kibbutz Kfar Haruv.
Op-Ed: Israel Land Authority Policy – Negative Incentive for Agricultural Settlements
Adv. Hagit Ben Moshe published an op-ed in Globes on the proposal to amend the rules for restoring agricultural land to the Israel Lands Authority, which will reduce the incentives offered to farmers. Hagit noted that since the decision has been postponed until after next week's election, it is worth taking the time to prepare accordingly.