TEL AVIV, Israel
March 4, 2013
Elbit Imaging Ltd. ("EI"
"Company") (TASE, NASDAQ: EMITF)
announced today that, on
March 3, 2013
it was informed that a purported class action lawsuit was filed on
February 25, 2013
by Yuki Shemesh Ltd., one of the Company's note holders, in the Israeli Tel-Aviv Jaffa District Court, against the Company, its controlling shareholders, officers and others. The complaint requests that the court recognize the lawsuit as a valid class action and alleges, among other things, that the Company's announcements on
February 5, 2013
February 19, 2013
that it would suspend its principal and interest payments to its note holders constitutes a breach of the trust agreements relating to the Company's Series A and Series B notes. The lawsuit seeks damages in the amount of
NIS 240 million
). The Company plans to defend against it vigorously.
About Elbit Imaging Ltd.
Elbit Imaging Ltd. operates in the following principal fields of business: (i)
Commercial and Entertainment Centers
- Initiation, construction and sale of shopping and entertainment centers and other mixed-use real property projects, predominantly in the retail sector, located in Central and
, primarily through its subsidiary Plaza Centers N.V. In certain circumstances and depending on market conditions, we operate and manage commercial and entertainment centers prior to their sale; (ii)
U.S. Real Property
- Investment in commercial real property in
the United States
- Hotel operation and management; (iv)
- (a) research and development, production and marketing of magnetic resonance imaging guided focused ultrasound treatment equipment and (b) development of stem cell population expansion technologies and stem cell therapy products for transplantation and regenerative medicine; (v)
- Initiation, construction and sale of residential projects and other mixed-use real property projects, predominately residential, located primarily in
- Distribution and marketing of fashion apparel and accessories in
; and (vii)
- venture capital investments.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995