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G Willi-Food International Ltd (NASDAQ: WILC) Investor Securities Class Action Lawsuit 02/29/2016

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Lawsuit Overview

Case Dismissed
Company
G Willi-Food International Ltd
Security
NASDAQ: WILC

Case Name
G Willi-Food International Shareholder Class Action Lawsuit 02/29/2016
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

September 23, 2016 - The case was voluntarily dismissed.

February 29, 2016 - An investor in shares of G Willi-Food International Ltd (NASDAQ: WILC) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by G Willi-Food International Ltd in connection with certain allegedly false and misleading statements made between April 30, 2014 and February 18, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of G Willi-Food International Ltd (NASDAQ: WILC) common shares between April 30, 2014 and February 18, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between April 30, 2014 and February 18, 2016 issued allegedly false and misleading statements to investors and/or failed to disclose that defendant Gregory Gurtovoy, along with others, illegally transferred money out of G. Willi-Food International Ltd, and that as a result, G. Willi-Food International Ltd’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On February 18, 2016, G. Willi-Food International Ltd (NASDAQ: WILC) announced that as a result of suspicions of certain breaches of Israeli securities laws and criminal offenses, the Israel Securities Authority (“ISA”) initiated an investigation. G Willi-Food International Ltd said that the ISA conducted a search on February 17, 2016 at the offices of the Company, and the offices of its Parent Company, Willi-Food Investments Ltd., BSD Crown Ltd., and B.G.I Investments (1961) Ltd. (the “Group”),during which certain computers and other materials were seized by the ISA. G Willi-Food International Ltd also said that similarly, a number of officers and directors within the Group are being questioned by the ISA, and the chairman of our board of directors and the indirect controlling shareholder of the Group, Mr. Gregory Gurtovoy, has been detained.