NEW YORK, NY / ACCESSWIRE / July 18, 2017 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against B Communications Ltd. ("B Communications" or the "Company") (BCOM) and certain of its officers, on behalf of shareholders who purchased B Communications securities between November 7, 2013 and June 19, 2017, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: http://www.bgandg.com/bcom.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

B Communications Ltd provides various communications services for business and private customers in Israel and is a subsidiary of Internet Gold–Golden Lines, a subsidiary of Eurocom Communications Ltd. ("Eurocom"), owned by Shaul Elovitch ("Elovitch").

At all relevant times, Bezeq The Israel Telecommunication Corporation Limited ("Bezeq") was as a subsidiary of B Communications. On or around June 24, 2015, Bezeq finalized a merger with its subsidiary D.B.S., Satellite Services (1998) Ltd. ("DBS"), also known by the name "YES," a satellite television operator (the "Bezeq-YES Merger"). Prior to the merger, Bezeq held a 49.8% stake in YES, while Eurocom held a 50.2% stake in the YES. Pursuant to the merger, Bezeq paid Eurocom NIS 680 million to acquire its holdings in YES.

Through Elovitch's ownership of Eurocom, he exercised control over Eurocom, B Communications, and Bezeq, and served at all relevant times as the Chairman of the Board of Directors at each company.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding its business, operational and compliance policies and specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Elovitch had engaged in illegal conduct in connection with the Bezeq-YES Merger; (2) discovery of the foregoing conduct would subject B Communications and/or Bezeq to heightened regulatory scrutiny and potential criminal sanctions; and (3) consequently, B Communications' public statements were materially false and misleading at all relevant times.

On June 20, 2017, The Times of Israel revealed that the Israel Securities Authority ("ISA") raided the offices of B Communications' subsidiary, Bezeq The Israel Telecommunication Corporation Ltd. ("Bezeq"), and detained Shaul Elovitch, Bezeq's chairman and majority shareholder. Bezeq disclosed that "the ISA has informed the company that the investigation deals with suspicions of violations of the securities law and the penal code relating to transactions connected to the controlling shareholder." The Israeli publication Globes also reported that the ISA is investigating the Bezeq-Yes Merger and payments the unit made to Eurocom under pressure from Elovitch. Following this news, B Communications shares dropped $1.00 per share, or over 4%, from its previous closing price to close at $20.50 per share on June 20, 2017.