ECtel Ltd. is a provider of Integrated Revenue Management(TM) (IRM (TM)) solutions.

The Complaint charges ECtel, certain officers and directors of the Company who served in such positions in the years 2001-2003, as well as ECI Telecom Ltd. (a major shareholder during the referenced period) with violations of U.S. Federal Securities laws and breach of fiduciary duties in connection with disclosure of ECtel's financial results between April 2001 and April 2003. Specifically, Defendants’ failure to comply with generally accepted accounting principals and its own stated accounting policies, and its corresponding reporting of misleading financial results and dissemination of other false and misleading statements acted as a fraud on the market.

On September 12, 2005, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on October 21. Lead Plaintiff filed a second amended Complaint on December 15.

Defendants filed a Motion to Dismiss the second amended Complaint on February 21, 2006. On July 18, the Court issued an Order granting Defendants' Motion to Dismiss.

On March 13, 2007, Lead Plaintiff filed a Notice appealing the Court's Dismissal Order.

The parties entered into a Stipulation of Settlement on May 9, 2008. The Court granted preliminary approval of the Settlement on April 21, 2009. On July 28, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, and entered Final Judgment.

The appeal on of the Court's Dismissal Order was voluntarily dismissed on August 10, 2009.

On March 2, 2011, the Court issued an Order authorizing disbursement of the net Settlement fund.