Partner Communications (PTNR) Serves Three Lawsuits, Motions; May Face NIS 400M in Fines
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Revenue Growth %: -100.0%
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Partner Communications Company Ltd. (Nasdaq: PTNR) was served with three lawsuits and three motions for the recognition of these lawsuits as class actions, filed against Partner by the same plaintiff on May 13, 2012 in the Tel-Aviv District Court.
The first and the second claims allege that Partner does not grant its customers monetary refunds for terminal equipment that was purchased from the Company, starting from the first month after the purchase, as alleged that they are entitled to, and thereby breaches the Israeli Consumer Protection Law and profits unlawfully (the first claim refers to cellular handsets and the second claim refers to cellular car-sets).
If the first and the second lawsuits are recognized as class actions the total amount claimed against Partner is estimated by the plaintiff to be approximately NIS 235 million and NIS 85 million, respectively.
The third claim alleges that Partner unlawfully charges its customers a monthly fee for use of a secondary handset in the vehicle as part of the "orange2" service and thereby breachs the Israeli Consumer Protection Law and profits unlawfully.
If this lawsuit is recognized as a class action the total amount claimed against Partner is estimated by the plaintiff to be approximately NIS 78 million.
Partner is reviewing and assessing the lawsuits and is unable, at this preliminary stage, to evaluate, with any degree of certainty, the probability of success of the lawsuits or the range of potential exposure, if any.
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The first and the second claims allege that Partner does not grant its customers monetary refunds for terminal equipment that was purchased from the Company, starting from the first month after the purchase, as alleged that they are entitled to, and thereby breaches the Israeli Consumer Protection Law and profits unlawfully (the first claim refers to cellular handsets and the second claim refers to cellular car-sets).
If the first and the second lawsuits are recognized as class actions the total amount claimed against Partner is estimated by the plaintiff to be approximately NIS 235 million and NIS 85 million, respectively.
The third claim alleges that Partner unlawfully charges its customers a monthly fee for use of a secondary handset in the vehicle as part of the "orange2" service and thereby breachs the Israeli Consumer Protection Law and profits unlawfully.
If this lawsuit is recognized as a class action the total amount claimed against Partner is estimated by the plaintiff to be approximately NIS 78 million.
Partner is reviewing and assessing the lawsuits and is unable, at this preliminary stage, to evaluate, with any degree of certainty, the probability of success of the lawsuits or the range of potential exposure, if any.
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