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Cellcom Israel Announces Update Regarding Purported Class Action Pending Against the Company
By: PR Newswire
Nov. 11, 2012 11:49 AM
NETANYA, Israel, November 11, 2012 /PRNewswire/ --
Cellcom Israel Ltd. (NYSE: CEL) (the "Company") provided an update with respect to a purported class action pending against the Company in respect to the network malfunction that occurred on December 1, 2010. An amendment has been filed with the court under the previously reported procedural agreement among the plaintiffs of several purported class actions filed against the Company in relation to the malfunction. The plaintiffs include causes of actions and remedies allegedly sought in purported class actions dismissed under the procedural agreement and update the claimed amount of approximately NIS 61 million to NIS 350 per customer in a private calling plan and NIS 700 per customer in a business calling plan and add approximately NIS 1.182 billion for non monetary damages as well as the relative portion of the monthly payment relating to the hours of the malfunction.
The Company believes that part of the amendment is not in line with the procedural agreement and will address the amendment when responding to the claim.
For additional details regarding the purported class actions filed in relation to the malfunction see the Company's interim financial statements for Q3/2011 under "Note 8 - Contingent Liabilities" - section 6, filed on Form 6-K, on November 15, 2011.
About Cellcom Israel
Cellcom Israel Ltd., established in 1994, is the leading Israeli cellular provider; Cellcom Israel provides its approximately 3.333 million subscribers (as at June 30, 2012) with a broad range of value added services including cellular and landline telephony, roaming services for tourists in Israel and for its subscribers abroad and additional services in the areas of music, video, mobile office etc., based on Cellcom Israel's technologically advanced infrastructure. Cellcom Israel operates an HSPA 3.5 Generation network enabling advanced high speed broadband multimedia services, in addition to GSM/GPRS/EDGE networks .Cellcom Israel offers Israel's broadest and largest customer service infrastructure, including telephone customer service centers, retail stores, and service and sale centers, distributed nationwide. Through its broad customer service network Cellcom Israel offers technical support, account information, direct to the door parcel delivery services, internet and fax services, dedicated centers for the hearing impaired, etc. Cellcom Israel further provides through its wholly owned subsidiaries internet connectivity services and international calling services, as well as landline telephone communication services in Israel, in addition to data communication services. Cellcom Israel's shares are traded both on the New York Stock Exchange (CEL) and the Tel Aviv Stock Exchange (CEL). For additional information please visit the Company's website http://www.cellcom.co.il
SOURCE Cellcom Israel Ltd.
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