Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,262.56 89.32 0.55%
S&P 500 1,842.98 12.37 0.68%
NASDAQ 4,034.16 11.47 0.29%
Ticker Volume Price Price Delta
STOXX 50 3,091.52 -40.05 -1.28%
FTSE 100 6,541.61 -42.15 -0.64%
DAX 9,173.71 -165.46 -1.77%
Ticker Volume Price Price Delta
NIKKEI 14,354.06 357.25 2.55%
TOPIX 1,160.59 24.50 2.16%
HANG SENG 22,813.92 142.66 0.63%

Elbit Systems' Subsidiary Files an Approximately $74 Million Lawsuit for Damages and Expenses in Connection With the



   Elbit Systems' Subsidiary Files an Approximately $74 Million Lawsuit for
 Damages and Expenses in Connection With the Cancellation of Export Licenses
                      for Project of a Foreign Customer

PR Newswire

HAIFA, Israel, November 8, 2012

HAIFA, Israel, November 8, 2012 /PRNewswire/ --

Elbit Systems Ltd. (NASDAQ and TASE:ESLT) ("Elbit Systems") announced today,
further to its announcements of December 22, 2011 and February 12, 2012, that
its subsidiary, Elbit Systems Electro-Optics - Elop Ltd., was compelled to
file a lawsuit against the Government of Israel, for damages and expenses
caused in connection with the cancellation of export licenses for a project of
a foreign customer.

This followed the unsuccessful efforts to reach an appropriate compensatory
settlement with the Government. The approximately $74 million lawsuit was
filed with the District Court of the Central Region.

About Elbit Systems

Elbit Systems Ltd. is an international defense electronics company engaged in
a wide range of programs throughout the world. The Company, which includes
Elbit Systems and its subsidiaries, operates in the areas of aerospace, land
and naval systems, command, control, communications, computers, intelligence
surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems ("UAS"),
advanced electro-optics, electro-optic space systems, EW suites, airborne
warning systems, ELINT systems, data links and military communications systems
and radios. The Company also focuses on the upgrading of existing military
platforms, developing new technologies for defense, homeland security and
commercial aviation applications and providing a range of support services.

For additional information, visit: http://www.elbitsystems.com.

This press release contains forward-looking statements (within the meaning of
Section 27A of the Securities Act of 1933, as amended and Section 21E of the
Securities Exchange Act of 1934, as amended) regarding Elbit Systems Ltd.
and/or its subsidiaries (collectively the Company), to the extent such
statements do not relate to historical or current fact.  Forward Looking
Statements are based on management's expectations, estimates, projections and
assumptions.  Forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995, as
amended.  These statements are not guarantees of future performance and
involve certain risks and uncertainties, which are difficult to predict.
 Therefore, actual future results, performance and trends may differ
materially from these forward-looking statements due to a variety of factors,
including, without limitation: scope and length of customer contracts;
governmental regulations and approvals; changes in governmental budgeting
priorities; general market, political and economic conditions in the countries
in which the Company operates or sells, including Israel and the United States
among others; differences in anticipated and actual program performance,
including the ability to perform under long-term fixed-price contracts; and
the outcome of legal and/or regulatory proceedings.  The factors listed above
are not all-inclusive, and further information is contained in Elbit Systems
Ltd.'s latest annual report on Form 20-F, which is on file with the U.S.
Securities and Exchange Commission. All forward-looking statements speak only
as of the date of this release. The Company does not undertake to update its
forward-looking statements.

Contacts:

Company Contact:    

Joseph Gaspar, Executive VP & CFO
Tel: +972-4-8316663
j.gaspar@elbitsystems.com

Dalia Rosen, VP, Head of Corporate Communications
Tel: +972-4-8316784
dalia.rosen@elbitsystems.com
Elbit Systems Ltd.

IR Contact:
Ehud Helft
Kenny Green
CCG Investor Relations
Tel: +1-646-201-9246
elbitsystems@ccgisrael.com

SOURCE Elbit Systems Ltd
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement