Case Description
Representation of one of Israel’s largest and most established transportation companies before the Economic Division of the Tel Aviv District Court in a minority shareholder oppression claim.
The plaintiff alleged that the board of directors and the general meeting had made decisions favoring one of the directors to the detriment of the company, and therefore sought the annulment of certain board and shareholder resolutions. The circumstances surrounding the convening of the general meeting challenged the defense’s position that the company had acted with full transparency.
Status
Proceedings concluded.
Outcome
Following complex negotiations, a settlement was reached and approved by the court as a consent judgment. Under the settlement, the plaintiff’s shares were purchased at market value, thereby avoiding potential multimillion-shekel exposure for the company.