Partner Communications Company Ltd. ("Partner" or "the Company") (NASDAQ:PTNR) (TASE: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 April 1, 2014 in the Haifa District Court.
The claim alleges that Partner charged its customers for cellular internet services abroad not in accordance with the subscriber agreement.
If the lawsuit is recognized as a class action the total amount claimed against Partner is estimated by the plaintiff to be approximately NIS 2 Billion.
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 2013 Annual Report (20-F) filed with the SEC on March 10, 2014. 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/.
Contacts:
Mr. Ziv Leitman, Tel: +972-54-781-4951
Chief
Financial Officer
or
Ms. Elana Holzman, Tel: +972-54-781-4383
Head
of Investor Relations
E-mail: investors@orange.co.il