TEL AVIV, Israel, May 26, 2013 /PRNewswire/ -- Elbit Imaging Ltd. ("EI" and/or the "Company") (NASDAQ: EMITF), announced today that the Israeli Supreme Court dismissed an appeal (Civil Appeal #1968/13 Beeri V. Elscint Ltd. et. al.) on the District Court decision not to certify a claims against Elscint Ltd. (a former wholly owned subsidiary of the Company which was merged to the Company), the Company and others, as a class action due to the fact that the appellant failed to pay court fees. This case was initially filed in the District Court of Haifa, Israel in September 2006 by Mr. Beeri against Elscint, the Company, their controlling shareholders (Europe Israel (MMS) Ltd. and Control Centers Ltd.) and past and present officers and directors of such companies and certain unrelated third parties. For additional details in respect of the said claim, see note 23B(2) to the Company's financial statements for the year ended December 31, 2012, which were filed by the Company on Form 6-K on March 21, 2013. 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 Eastern Europe and in India, primarily through its subsidiary Plaza Centers N.V. In certain circumstances and depending on market conditions, the Company operate and manage commercial and entertainment centers prior to their sale; (ii) Hotels - Hotel operation and management; (iii) Medical Industries - (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; (iv) Residential Projects - Initiation, construction and sale of residential projects and other mixed-use real property projects, predominately residential, located primarily in India; and (v) Fashion Apparel - Distribution and marketing of fashion apparel and accessories in Israel. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Elbit Imaging (EMITF) is rocketing higher on Tuesday after announcing its Gamida Cell Ltd, which Elbit's subsidiary Elbit Medical Technologies holds 30.8% voting power in, had received an acquisition proposal from a pharmaceutical company.