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Insights & News / Capital Markets
December 14, 2022
FTX’s Collapse and the Golden State Warriors – Dr. Zvi Gabbay Interviewed by Finance Magnates
Following the collapse of FTX, several lawsuits were filed against the NBA’s Golden State Warriors, which had entered into cooperation agreements with the now-defunct crypto company. According to Dr. Zvi Gabbay, the plaintiffs must provide at least preliminary indications that the basketball team was aware of or should have been aware of FTX’s wrongdoing. According to Zvi, he saw no hint of any such indications.
December 7, 2022
Stock Market Skeletons: Dudi Cohen Interview with Globes
Stock market skeletons are raising their heads. Recently, several skeleton companies have announced talks about merging with private companies who have substantial activity. Dudi Cohen, head of our firm’s Finance and Public Corporations Department, was interviewed by Globes on the phenomenon. He shed some light on the issue of stock market skeletons and the legal problems that may arise as a result.
November 30, 2022
Shareholder Transactions – Elad Reshtick Lecture
Elad Reshtick, a firm partner, lectured to members of a senior business management course on the do’s and don’ts of shareholder transactions. He delivered the lecture to the IDF unit of the Gender Affairs Advisor to the Chief of Staff in cooperation with the Israeli Directors’ Union.
November 28, 2022
Institutional Entities Investing in Urban Renewal – Success Story?
Will an alliance develop between urban renewal companies and the capital market? Elad Reshtick, a partner in our firm’s Capital Markets Department, addresses the issue in an op-ed for Calcalist.
November 16, 2022
Dr. Zvi Gabbay Attends Israeli Association of Publicly Traded Companies' Legal Counsel Forum
Dr. Zvi Gabbay, the head of our firm's Capital Markets Department, was a guest on the accompanying forum webinar and lectured on the do's and don'ts of administrative enforcement procedures.
September 19, 2022
Led by Barnea, Danel Group Raised ILS 130 Million from Institutional Investors
Hagit Ross, Alon Anava, and Ronit Lerer represented Danel Group, a human resources and nursing company traded on the TASE, in raising more than ILS 130 million in a private IPO for Nokd Capital, The Phoenix, and Reading Capital.
September 12, 2022
Public Statements: Hagit Ross and Gal Rozent Participate in Webinar Hosted by Israeli Association of Public Companies
Hagit Ross, a partner in our Capital Markets Department, and Gal Rozent, a partner in our Competition Department, participated today in a forum hosted by the Israel Association of Public Companies. They gave a joint lecture entitled, "Public Statements by Officers in Public Companies – Do's and Don'ts."
July 21, 2022
Bezeq Affair and Implications for Independent Committees – Micky Barnea Interview in Globes
Following Judge Michal Agmon-Gonen’s ruling to drop certain charges from the indictment in the Bezeq securities case, Micky Barnea, the firm’s managing partner, was interviewed by Globes. Micky noted, “This ruling should not diminish the status of independent committees, but rather create order regarding them.”
June 23, 2022
Regulation: Internal Enforcement and Compliance
Yesterday, Dr. Zvi Gabbay, the head of our firm’s Capital Market Department, lectured for compliance officers at BDO’s financial academy. Zvi’s lecture focused on internal enforcement, which can significantly mitigate corporations’ exposure to enforcement proceedings being instituted by regulatory authorities, significantly reduce the pecuniary sanctions that might be imposed in respect of violations, and contribute to a corporation’s good reputation for maintaining a culture of compliance and integrity.
June 8, 2022
The Rules of the ESG Game Have Changed- Zvi Gabbay Column in TheMarker
USD 1.5 million fines, preliminary administrative proceedings, dramatic resignations—growing enforcement on ESG issues is becoming a bigger trend. Who should be preparing for this change and how will it affect Israeli companies?
June 2, 2022
Dr. Zvi Gabbay Article Featured in "Law and Business" Journal
An article co-written by Dr. Zvi Gabbay, head of our firm's Capital Markets Department, will be featured in the next volume of Reichman University's "Law and Business" journal. The article deals with requests for early disclosure of documents under the Companies Law and how Israeli courts examine such requests, in a way that often misses the purposes of the request and sterilizes it from its content
June 1, 2022
Insider Information: Investor Relations Forum Event at Barnea
Our firm hosted Zvi Rabin and members of the Investor Relations Forum to discuss insider trading. Dr. Zvi Gabbay lectured on the characteristics of the crime, how the Israel Securities Authority handles such offenses, and the importance of obtaining professional legal assistance.
May 8, 2022
Globes Interviews Micky Barnea on Options and Executive Salary Increases
In 2021, capital compensation grew to become a more dominant component in the salaries of senior executives of companies traded on the Tel Aviv Stock Exchange. As part of an interview series with a number of capital markets experts in Globes, Micky Barnea noted, among other things, that "we are talking about managers who usually received their capital component, whether in options or in shares, before the company's issuance. This is not a negative phenomenon, as we would expect the chairman of the board, for example, whose role is to provide strategic support to the management staff, to have an identity of interests with the shareholders. When he holds such a capital component, which is positively affected by the rise of the stock, this creates an identity of interests."
April 10, 2022
The Role of a Court-Appointed Observer at the Board Table
Dr. Zvi Gabbay participated in a "Zichlinskey Hosts" meeting held by SRI Global Group together with the Israel Directors Union.
March 27, 2022
Regulatory Activism Is Not the Proper Form of Enforcement
Globes has published an op-ed by Dr. Zvi Gabbay commenting on a statement made by a senior official at the Israel Securities Authority regarding the applicability of securities regulation on various types of alternative investments.
March 2, 2022
Globes Op-ed by Zvi Gabbay – Crypto and the Regulators
Dr. Zvi Gabbay writes in a Globes op-ed about rising up to the blockchain challenge and who needs to make the next move.
February 2, 2022
Interview with Micky Barnea: Takeovers of Public Companies
Recent years have seen several takeover attempts of companies listed on the Tel Aviv Stock Exchange. Already in early 2022 was there a control struggle over Norstar Holdings Inc. As an expert lawyer in the field of corporate takeovers, Micky Barnea was interviewed by TheMarker for an article on the subject.
In the interview, Micky explained that “control takeovers begin with a combination of two things: an analysis to identify the business potential and a legal analysis that clarifies which steps are required to acquire control.”
January 20, 2022
Cyber Events in Public Companies
Hagit Ross, a partner in our firm, lectured today at the annual convention of the Israeli Association of Publicly Traded Companies
on the required preparations public companies must make in the face of cyberattack threats.
December 14, 2021
Accessibility Requirements for Public Company Reports – Advising the Association of Publicly Traded Companies
Our firm is advising the Association of Publicly Traded Companies vis-a-vis the Ministry of Justice, the Commission for Equal Rights for Persons with Disabilities, and the Israel Securities Authority regarding accessibility requirements for public company reports.
From the legal review we prepared for the client, we determined there is no place or justification, even from a broad international perspective, to impose accessibility requirements on companies with regard to public company reports, or to allow private enforcement (in the form of class action lawsuits) against public companies.
November 18, 2021
Internal Enforcement: Series of Webinars for Public Companies
Our firm, in collaboration with the Public Companies Forum of the Association of Corporate Counsel in Israel, has launched a series of webinars on internal enforcement. Among the lectures in the series, to be delivered by Dr. Zvi Gabbay, is "Prohibition on the Use of Insider Information, What an Internal Enforcement Plan Is, and How It Is Implemented in Organizations."