The Tel Aviv District Court granted our motion to dismiss at the outset an application for certification of a NIS 37 million class action alleging losses suffered by shareholders of A. Luzon Real Estate & Finance Ltd. following its merger with Tarya P2P Ltd.
In an unusual decision, the Court dismissed the certification application at the preliminary stage, addressing substantive issues of corporate law, including the distinction between harm suffered by a company and harm suffered by its shareholders, who has standing to bring a claim, and the distinction between class actions and derivative actions.
The case was led by attorneys Barak Tal, Orna Sasson, Hanital Belinson-Navon, and Asaf Bregman of our firm.
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