Latest Updates /  Litigation

In a precedential ruling, the Tel Aviv District Court dismissed 66 motions to certify class actions filed against dozens of public companies. The motions alleged the companies’ financial reports and reporting to the Tel Aviv Stock Exchange’s MAYA system were not accessible to people with disabilities. Eyal Nachshon, Zohar Haim Levinger, and Naama Ben Arosh Moshe represented a large number of the companies.

Zohar Lande, Moran Bickel, Asaf Glazner, and Inbal Amit are representing the car safety company D-Lock in the NIS 20 million lawsuit it filed against SafeCar. D-Lock claims SafeCar engaged in industrial espionage, baseless lawsuits, and threats against D-Lock’s managers and service providers in order to stop its entry to the market.  

A worrying number of contracting companies in the real estate and infrastructure market have recently gone insolvent. A contractor’s financial collapse affects not only his creditors, but also the project’s contractee. In an op-ed, Idan Miller explains if insolvency law prevents damage reduction for the contractee.   

As part of a webinar held by the Israeli Association of Publicly Traded Companies, Eyal Nachshon lectured on the accessibility of company reports in the Magna and Maya systems and the exposure of public companies to public lawsuits in connection with the violation of accessibility obligations.

Our firm continues to represent the institutional investors Phoenix and More, shareholders of Megureit Israel Ltd., in relation to a dispute about Megureit’s unlawful conduct. According to Phoenix and More, the REIT fund approved, in violation of the law, the extension of the agreement with the management company REIT Index Management Ltd., in a way that constitutes harm to the company itself (and, consequently, also to its shareholders). Megureit also refrained from transferring documents requested by Phoenix and More in this regard and procrastinated in an attempt to avoid convening a meeting and an operative discussion of the issue that could lead to a solution benefitting the company and all of its shareholders. Last week, Advs. Zohar Lande and Adi Shoham sent a letter to Megureit clarifying that Phoenix and More intend to insist on their rights, including by filing a derivative suit against the company and other parties. They requested that this letter be considered a preliminary notice before filing a derivative suit.

Our office represents a senior official under investigation in connection with suspicions of embezzlement, estimated at approximately NIS 120 million that were allegedly wrongfully obtained from the agricultural association at Moshav Achisemech.

Following pollution to the Ashalim River and its surrounding areas in 2017, three plaintiffs filed a class action against Rotem Amfert, a subsidiary of ICL Group, for NIS 400 million. The plaintiffs demanded compensation for the ecological damage caused to the area.  

We are providing representation in a shareholders' dispute at Powermat, one of the first startups to develop wireless charging technology. The company holds overs 145 patents, is considered a significant player in the market, and has signed large-scale deals with international companies.

Eyal Nachshon and Zohar Haim Levinger represented the Maadaney Gourmet butcher chain against a motion for certification of a class action filed against it. The claim alleged the chain violated provisions of the Economy Ministry's competitive procedure for 2018 regarding the import of fresh meat exempt from customs duty. After a long and in-depth mediation process, the parties reached a settlement agreement. Maadaney Gourmet agreed to donate food products to those in need, thus bringing the litigation process to an end.

Eyal Nachshon, a partner in our Litigation Department, has written an op-ed addressing the new amendment to Israel’s class action regulations, which may harm the rights of public companies (page 14).