Cellcom Israel (CEL) Says Class Action Suit Dismissed

September 19, 2016 6:30 AM EDT

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Cellcom Israel Ltd. (NYSE: CEL) announced the dismissal of a purported class action filed against the Company and two other Israeli cellular operators in December 2015, alleging that the defendants unlawfully offer cellular pre-paid calling cards for very high prices by allegedly coordinating such prices among them.

The total amount claimed from all defendants, including the Company, had the lawsuit been certified as a class action, was estimated by the plaintiffs to be approximately NIS 13 billion (out of which, based on the data specified in the lawsuit by the plaintiff, an estimated amount of approximately NIS 6.7 billion was claimed from the Company).

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