Partner Communications Company Ltd. ("Partner" or "the Company") PTNR PTNR, a leading Israeli communications operator, announces that it was served with a lawsuit and a motion for the recognition of this lawsuit as a class action, filed against Partner on November 4, 2013 in the Central District Court.
The claim alleges that Partner unlawfully reduces the account balance of Pre-Paid subscribers.
If the lawsuit is recognized as a class action the total amount claimed against the Company is estimated by the plaintiff to be NIS 35 million.
Partner is reviewing and assessing the lawsuit and is unable, at this preliminary stage, to evaluate, with any degree of certainty, the probability of success of the lawsuit or the range of potential exposure, if any.
Forward-Looking Statements
This
press release includes forward-looking statements within the meaning of
Section 27A of the US Securities Act of 1933, as amended, Section 21E of
the US Securities Exchange Act of 1934, as amended, and the safe harbor
provisions of the US Private Securities Litigation Reform Act of 1995.
Words such as "believe", "anticipate", "expect", "intend", "seek",
"will", "plan", "could", "may", "project", "goal", "target" and similar
expressions often identify forward-looking statements but are not the
only way we identify these statements. All statements other than
statements of historical fact included in this press release regarding
our future performance, plans to increase revenues or margins or
preserve or expand market share in existing or new markets, plans to
reduce expenses, and any statements regarding other future events or our
future prospects, are forward-looking statements.
We have
based these forward-looking statements on our current knowledge and our
present beliefs and expectations regarding possible future events. These
forward-looking statements are subject to risks, uncertainties and
assumptions about Partner, consumer habits and preferences in cellular
telephone usage, trends in the Israeli telecommunications industry in
general, the impact of current global economic conditions and possible
regulatory and legal developments. For further information regarding of
some of the risks we face, see "Item 3. Key Information - 3D. Risk
Factors", "Item 4. Information on the Company", "Item 5. Operating and
Financial Review and Prospects", "Item 8. Financial Information - 8A.
Consolidated Financial Statements and Other Financial Information – 8A.1
Legal and Administrative Proceedings" and "Item 11. Quantitative and
Qualitative Disclosures about Market Risk" in the Company's 2012 Annual
Report (20-F) filed with the SEC on March 19, 2013. In light of these
risks, uncertainties and assumptions, the forward-looking events
discussed in this press release might not occur, and actual results may
differ materially from the results anticipated. We undertake no
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
About Partner Communications
Partner
Communications Company Ltd. ("Partner") is a leading Israeli provider of
telecommunications services (cellular, fixed-line telephony and internet
services) under the orange™ brand and the 012 Smile brand. Partner's
ADSs are quoted on the NASDAQ Global Select Market™ and its shares are
traded on the Tel Aviv Stock Exchange (NASDAQ and TASE: PTNR).
For
more information about Partner, see: http://www.orange.co.il/en/Investors-Relations/lobby/.
Mr. Ziv Leitman, Tel: +972-54-7814951
Chief Financial Officer
E-mail:
investors@orange.co.il
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