According to the law firm press release, the Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Defendant had engaged in illegal conduct in connection with the Bezeq-YES Merger; (ii) discovery of the foregoing conduct would subject B Communications and/or Bezeq to heightened regulatory scrutiny and potential criminal sanctions; and (iii) as a result of the foregoing, B Communications’ public statements were materially false and misleading at all relevant times.

On September 27, 2017, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiffs filed an amended Complaint on December 8. Defendant filed a Motion to Dismiss the amended Complaint on February 20, 2018. On September 27, the Court issued an Order granting in part and denying in part Defendant's Motion to Dismiss.

On July 31, 2019, Plaintiffs filed a Motion for Class Certification. On February 4, 2020, the Court issued an Order denying the Motion for Class Certification. On March 3, the parties entered into a Stipulation of Settlement. The Court granted preliminary approval of the Settlement on April 10.