Partner Communications Announces Receiving a Lawsuit and a Motion for the
Recognition of This Lawsuit as a Class Action
ROSH HA'AYIN, Israel -- March 26, 2014
Partner Communications Company Ltd. ("Partner" or "the Company") (NASDAQ and
TASE: PTNR), a leading Israeli communications operator, announces that it was
served with a lawsuit and a motion for the recognition of this lawsuit as a
class action, filed against Partner on March 24, 2014 in the Tel-Aviv-Jaffa
District Labour Court.
The claim alleges that Partner did not include in the severance pay
calculation for its employees various components that constitute an addition
to the salary for the severance pay calculation and thereby acted unlawfully.
If the lawsuit is recognized as a class action the total amount claimed
against Partner is estimated by the plaintiff to be NIS 100 million.
Partner is reviewing and assessing the lawsuit and is unable, at this
preliminary stage, to evaluate, with any degree of certainty, the probability
of success of the lawsuit or the range of potential exposure, if any.
This press release includes forward-looking statements within the meaning of
Section 27A of the US Securities Act of 1933, as amended, Section 21E of the
US Securities Exchange Act of 1934, as amended, and the safe harbor provisions
of the US Private Securities Litigation Reform Act of 1995. Words such as
"believe", "anticipate", "expect", "intend", "seek", "will", "plan", "could",
"may", "project", "goal", "target" and similar expressions often identify
forward-looking statements but are not the only way we identify these
statements. All statements other than statements of historical fact included
in this press release regarding our future performance, plans to increase
revenues or margins or preserve or expand market share in existing or new
markets, plans to reduce expenses, and any statements regarding other future
events or our future prospects, are forward-looking statements.
We have based these forward-looking statements on our current knowledge and
our present beliefs and expectations regarding possible future events. These
forward-looking statements are subject to risks, uncertainties and assumptions
about Partner, consumer habits and preferences in cellular telephone usage,
trends in the Israeli telecommunications industry in general, the impact of
current global economic conditions and possible regulatory and legal
developments. For further information regarding of some of the risks we face,
see "Item 3. Key Information - 3D. Risk Factors", "Item 4. Information on the
Company", "Item 5. Operating and Financial Review and Prospects", "Item 8.
Financial Information - 8A. Consolidated Financial Statements and Other
Financial Information – 8A.1 Legal and Administrative Proceedings" and "Item
11. Quantitative and Qualitative Disclosures about Market Risk" in the
Company's 2013 Annual Report (20-F) filed with the SEC on March 10, 2014. In
light of these risks, uncertainties and assumptions, the forward-looking
events discussed in this press release might not occur, and actual results may
differ materially from the results anticipated. We undertake no obligation to
publicly update or revise any forward-looking statements, whether as a result
of new information, future events or otherwise.
About Partner Communications
Partner Communications Company Ltd. ("Partner") is a leading Israeli provider
of telecommunications services (cellular, fixed-line telephony and internet
services) under the orange™ brand and the 012 Smile brand. Partner’s ADSs are
quoted on the NASDAQ Global Select Market™ and its shares are traded on the
Tel Aviv Stock Exchange (NASDAQ and TASE: PTNR).
For more information about Partner, see:
For Partner Communications Company Ltd.
Mr. Ziv Leitman,+972-54-7814951
Chief Financial Officer
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