Class Action Lawsuit Filed Against Matav.Business Editors NETANYA, Israel--(BUSINESS WIRE)--Jan. 10, 2000 Matav-Cable Systems Media Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : MATVY) announced that on January 9, 2000 the Company received notice of a claim filed by a subscriber requesting to be considered a representative of the Class of the Company's subscribers in accordance with Israel's Restrictive Practices restrictive practices npl (INDUSTRY) → prácticas fpl restrictivas restrictive practices npl (Industry) → pratiques fpl Law and the Consumer Protection Law. If the claim is recognized as a class action suit, the Court will be asked to require the Company to return deposits which were collected from subscribers without cable-ready television sets who received set-top converter (1) A device that changes one set of codes, modes, sequences or frequencies to a different set. See A/D converter. (2) A device that changes current from 60Hz to 50Hz and vice versa. boxes from the Company. The complainant A plaintiff; a person who commences a civil lawsuit against another, known as the defendant, in order to remedy an alleged wrong. An individual who files a written accusation with the police charging a suspect with the commission of a crime and providing facts to support the allegation claims that the money due him personally totals New Israeli Shekels ("N.I.S.") 277, and that the money due in aggregate to all of the Company's subscribers who received set-top converter boxes totals approximately N.I.S. 40 million. The Company must file a response within 20 days. At this stage, the Company is studying the details of the complaint. The Company notes that the collection of a deposit for set-top converter boxes was provided for in Israel's Telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. Law, as well as in the license awarded to the Company by the Ministry of Communications, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. which the Company operates. Matav is a leading operator and provider of broadband Cable TV services in Israel. As one of three CATV (Community Antenna TV) The original name for cable TV. It used a single antenna at the highest location in the community in order to deliver a quality signal to homes in areas with hilly terrain or other interference. operators in Israel, the Company operates in exclusive franchise areas which cover approximately 25% of Israel's households. The Company provides CATV services to about 25% of all CATV subscribers in Israel. The statements contained in this release which are not historical facts contain forward-looking information with respect to plans, projections, or future performance of the Company, the occurrence of which involve certain risks and uncertainties, including risk of market acceptance, the effect of economic conditions, possible regulatory changes, and/or technological developments, and the impact of competitive pricing, as well as certain other risks and uncertainties which are detailed in the Company's filings with the Security and Exchange Commission. |
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