Cellcom Israel Announces Dismissal of a Purported Class Action Filed Against The Company |
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By: Cellcom Israel Ltd. Posted: 2008-03-09 05:43:31 |
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Cellcom Israel Ltd. (NYSE: CEL) (the "Company") announced today that a purported class action lawsuit filed in the District Court of Jerusalem against the Company and two other cellular operators and two landline operators, in January 2007, was dismissed without prejudice on March 5, 2008, following request of the plaintiffs to withdraw their claim. The plaintiffs claimed that the defendants had violated the defendants' statutory duty to allow their subscribers to transfer with their number to another operator, thus, allegedly causing monetary damage to the subscribers.
Had the dismissed lawsuit been certified as a class action, the total amount claimed was estimated by the plaintiffs to be at least NIS 10.6 billion, without specifying the amount claimed from the Company. For additional details see note 17(A)(19) to our Financial Statement included in our Annual Report on Form 20-F for the year ended December 31, 2006. About Cellcom Israel Cellcom Israel Ltd., established in 1994, is the leading Israeli cellular provider; Cellcom Israel provides its 3 million subscribers with a broad range of value added services including cellular and landline telephony, roaming services for tourists in Israel and for its subscribers abroad and additional services in the areas of music, video, mobile office etc., based on Cellcom Israel's technologically advanced infrastructure. The Company operates an HSPA 3.5 Generation network enabling the fastest high speed content transmission available in the world, in addition to GSM/GPRS/EDGE and TDMA networks. Cellcom Israel offers Israel's broadest and largest customer service infrastructure including telephone customer service centers, retail stores, and service and sale centers, distributed nationwide. Through its broad customer service network Cellcom Israel offers its customers technical support, account information, direct to the door parcel services, internet and fax services, dedicated centers for the hearing impaired, etc. In April 2006 Cellcom Israel, through Cellcom Fixed Line Communications L.P., a limited partnership wholly-owned by Cellcom Israel, became the first cellular operator to be granted a special general license for the provision of landline telephone communication services in Israel, in addition to data communication services. Cellcom Israel's shares are traded both on the New York Stock Exchange (CEL) and the Tel Aviv Stock Exchange (CEL). For additional information please visit the Company's website http://investors.ircellcom.co.il |
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