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Cellcom Israel announces a lawsuit filed against it claiming the company raised its tariffs unlawfully
April 25, 2007
NETANYA, Israel -- Cellcom Israel Ltd. (NYSE: CEL - News), announced that on April 23, 2007, the Company was informed that a lawsuit and a request for certification of the lawsuit as a class action, were filed against the Company in the District Court of Tel-Aviv by two plaintiffs who claim to be subscribers of the Company. The Company hasn't yet been served, as required by law, with the lawsuit and request to certify it as class action.
The plaintiffs claim that the Company raised its tariffs unlawfully and in violation of its license, in pricing plans that include a commitment to purchase certain services for a fixed period. If the lawsuit is certified as a class action, the amount claimed is estimated by the plaintiffs to be approximately NIS 230,550,000.
At this preliminary stage, we are unable to assess the lawsuit's chances of success.
Cellcom Israel Ltd.
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