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Cellcom Israel announces dismissal of purported class action.

M2 EQUITYBITES-August 8, 2016-Cellcom Israel announces dismissal of purported class action

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Cellcom Israel Ltd (TASE:CEL) (Nasdaq:CEL), a large Israeli cellular provider, announced on Friday that a purported class action filed in August 2015 against 013 Netvision Ltd (Netvision), the company's wholly owned subsidiary, and three other defendants, was dismissed against Netvision, at the request of the plaintiff.

According to the company, this purported class action alleged that another defendant unlawfully sold the other defendants, including Netvision, private data of its customers, which was used by the other defendants to approach such customers with commercial proposals.

Also, the amount claimed from each of the defendants allegedly purchasing the data, including Netvision, had the lawsuit been certified as a class action against Netvision, was estimated by the plaintiff to be ILS1000 for each customer whose private data it allegedly purchased and/or each approach made to such customers, the total of which was assessed by the plaintiff to be approximately 1.5 million customers.

(USD1.00=ILS3.83)

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Publication:M2 EquityBites (EQB)
Date:Aug 8, 2016
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