Gornitzky represented Bank Hapoalim in a motion to approve a class action filed against the Bank and its officers, in which it was argued that the bank refrained from including in its financial statements, the fact that provisions were made, pertaining to the investigation being conducted against the Bank in the United States. The motion allegedly claims that this is in fact material information which the Bank was required to disclose, in order not to mislead investors who purchased the Bank’s shares.
Judge Ruth Ronen dismissed the motion in her ruling last week.
Bank Hapoalim was represented by Pinhas Rubin (Chairman of the Firm), Yaron Elhawi (Partner) and Shirin Gabbay-Metzeger (Associate).
