NEW YORK, NY / ACCESSWIRE / August 1, 2017 / Pomerantz LLP announces that a class action lawsuit has been filed against B Communications Ltd. (''B Communications'' or the ''Company'') (BCOM) and certain of its officers. The class action, filed in United States District Court, Southern District of New York, and docketed under 17-cv-04937, is on behalf of a class consisting of investors who purchased or otherwise acquired B Communications securities, seeking to recover compensable damages caused by defendants' violations of the Securities Exchange Act of 1934.
If you are a shareholder who purchased B Communications securities between November 7, 2013 and June 19, 2017, both dates inclusive, you have until August 28, 2017 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.
[Click here to join this class action]
B Communications Ltd provides various communications services for business and private customers in Israel. The company offers fixed-line telephony, fixed-line broadband Internet infrastructure access, Internet service provider, cellular telephony, international telephony, international and domestic data transfer and network, information and communication technology, pay television, multi-channel television, television and radio broadcasts, satellite broadcasts, and customer call center services, as well as other communications infrastructures and services.
B Communications is a subsidiary of Internet Gold–Golden Lines, itself a subsidiary of Eurocom Communications Ltd. (''Eurocom''), owned by Shaul Elovitch (''Elovitch'').
At all relevant times, Bezeq The Israel Telecommunication Corporation Limited (''Bezeq'') has existed as a subsidiary of B Communications. On or around June 24, 2015, Bezeq completed a merger with its subsidiary D.B.S., Satellite Services (1998) Ltd. (''DBS''), more commonly known by its trade 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 his ownership of Eurocom, at all relevant times Elovitch has exercised control over Eurocom, B Communications, and Bezeq, and has served at all relevant times as the Chairman of the Board of Directors at each of the three companies.