Around NIS 800 million class action suit is hanging over Cellcom Israel

Cellcom-IsraelA purported class action lawsuit was filed against Cellular provider Cellcom Israel Ltd. by a plaintiff on Tuesday in the district court of central region.

According to Cellcom’s chief executive officer and some of its directors,  the said plaintiff claimed to be a subscriber of the company. and filed the complain against the Israel based company for sending commercial messages illegally to its subscribers.

Officials of Cellcom Israel is not in a state to predict the outcome of the case, but if the case earns a class action status then the total claimable sum would be some where near NIS 800 million, as estimated by the plaintiff.

Shares of CEL closed Monday’s trade at $21.01, up $0.27 or 1.30%, on a volume of 112K shares.
Cellcom is a major Israeli telecommunications company. Founded in 1994, today, most of the company’s business is centered around wireless service. Cellcom was the first to market mobile phones with Hebrew language menus. Cellcom covers almost the entire state of Israel through 360 marketing outlets and 30 service centers countrywide and has 3,000 employees.



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