Cellcom Israel (CEL) Hit with Class-Action Suit

September 14, 2016 8:15 AM EDT

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Cellcom Israel Ltd. (NYSE: CEL) announced that a purported class action was filed against 013 Netvision Ltd., the Company's wholly owned subsidiary, and two other Israeli international calls operators, alleging that the defendants unlawfully charge random customers with excessive and unreasonable prices for outgoing calls from Israel.

The total amount claimed from the defendants, if the lawsuit is certified as a class action, was not estimated by plaintiffs. At this preliminary stage, the Company is unable to assess the lawsuit's chances of success.

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