|[March 26, 2014]
Partner Communications Announces Receiving a Lawsuit and a Motion for the Recognition of This Lawsuit as a Class Action
ROSH HA'AYIN, Israel --(Business Wire)--
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
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", "culd", "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
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 (News - Alert) 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: http://www.orange.co.il/en/Investors-Relations/lobby/.
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