Partner Communications Announces That 012 Smile Received a Lawsuit and a Motion for the Recognition of This Lawsuit as a Class Action
ROSH HA'AYIN, Israel--(BUSINESS WIRE)-- Partner Communications Company Ltd. ("Partner" or "the Company") (Nasdaq: PTNR) (TASE:PTNR), a leading Israeli communications operator, announces that its fully owned subsidiary, 012 Smile Telecom Ltd. ("012 Smile"), was served with a lawsuit and a motion for the recognition of this lawsuit as a class action which were filed against 012 Smile on June 19, 2013 in the Tel-Aviv District Court.
The claim alleges that 012 Smile unlawfully uses the details of customers.
If the lawsuit is recognized as a class action the total amount claimed against 012 Smile is estimated by the plaintiff to be NIS 51 million.
012 Smile is reviewing and assessing the lawsuit and 012 Smile and Partner are 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.
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/
Partner Communications Company Ltd.
Mr. Ziv Leitman, Tel: +972-54-7814951
Chief Financial Officer
Ms. Yaffa Cohen-Ifrah, Tel: +972 54 909 9039
Head of Investor Relations
KEYWORDS: Middle East Israel
The article Partner Communications Announces That 012 Smile Received a Lawsuit and a Motion for the Recognition of This Lawsuit as a Class Action originally appeared on Fool.com.
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