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SHAREHOLDER ALERT: Khang & Khang LLP Announces Securities Class Action Lawsuit against B Communications Ltd. and Encourages Investors with Losses to Contact the Firm
Monday, July 17, 2017 6:20 PM
IRVINE, CA / ACCESSWIRE / July 17, 2017 / Khang & Khang LLP (the ''Firm'') announces the filing of a securities class action lawsuit against B Communications Ltd. (''B Communications'' or the ''Company'') (NASDAQ: BCOM). Investors who purchased or otherwise acquired shares between November 7, 2013 and June 19, 2017, inclusive (the ''Class Period''), are encouraged to contact the Firm in advance of the August 28, 2017 lead plaintiff motion deadline.
If you purchased shares of B Communications during the Class Period, please contact Joon M. Khang, Esq., of Khang & Khang LLP, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at [email protected].
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may also choose to take no action and remain a passive class member.
According to the Complaint, throughout the Class Period, B Communications made false and/or misleading statements, and/or failed to disclose: that: Shaul Elovitch, the controlling shareholder of Bezeq and B Communications, engaged in illegal conduct in connection with the Bezeq-YES Merger; that discovery of the foregoing conduct would subject B Communications and/or Bezeq to heightened regulatory scrutiny and potential criminal sanctions; and that as a result of the above, the Company's public statements were materially false and misleading at all relevant times. On June 20, 2017, The Times of Israel reported that the Israel Securities Authority (''ISA'') raided the offices of Bezeq and detained Elovitch. The ISA stated that it was investigating ''suspicions of violations of the securities law and the penal code relating to transactions connected to'' Elovitch. The Israeli publication Globes reported that the ISA is investigating the Bezeq-Yes Merger, as well as payments the unit made to Eurocom under pressure from Elovitch. When this news was announced, shares of B Communications fell in value materially, which caused investors harm.
If you wish to learn more about this lawsuit, or if you have questions about this notice or your rights, please contact Joon M. Khang, Esq., a prominent litigator for almost two decades, by telephone at (949) 419-3834, or by e-mail at [email protected].
This press release may be considered Attorney Advertising in some jurisdictions.
Joon M. Khang, Esq.
SOURCE: Khang & Khang LLP