PTNR - Partner Communications announces receipt of lawsuit filed by shareholder Lapidot Capital

• Partner Communications ( NASDAQ: PTNR ) said Wednesday it received a lawsuit filed by Lapidot Capital , which holds ~2.2M of its shares, in the Central District Court in Lod.
• Lapidot's stock is currently registered under its name in PTNR's shareholder registry as founding Israeli shareholder shares, as defined in PTNR's articles of association.
• The plaintiff claims that due to changes to PTNR's MRT license, its articles of association no longer require the registration of Lapidot's shares under its name in PTNR's shareholder registry.
• Lapidot is petitioning the court to instruct PTNR to register the plaintiff's shares in its shareholder registry under PTNR's nominee firm Mizrahi Tfahot Nominee as regular and free shares, which will allow trading the shares on the stock exchange, and a declaratory relief according to which Lapidot is entitled to receive damages from PTNR equal to the value of the plaintiff's shares according to their price on the date the lawsuit was filed, in addition to interest and linkage differences from the date the lawsuit was filed till the day the damages are granted, to be offset by the value of the shares on the day the plaintiff's shares will be registered under Mizrahi Tfahot.
• • PTNR is reviewing the lawsuit and is unable to evaluate the probability of the lawsuit's success as the proceeding is in prelim. stage.

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