CERAGON SERVED WITH A MOTION TO APPROVE A CLASS ACTION
January 06, 2015
Intends to Aggressively Oppose Motion Filed in Tel Aviv District Court
Paramus, New Jersey, January 6, 2015 – Ceragon Networks Ltd. (NASDAQ: CRNT), the #1 wireless hauling specialist, was served today with a motion to approve a purported class action, naming the Company, its Chief Executive Officer and its directors as defendants. The motion was filed with the District Court of Tel-Aviv (Economic Department), on behalf of holders of ordinary shares, including those who purchased shares during the period following the Company’s follow on public offering in July 2014.
The purported class actionalleges breaches of duties by making false and misleading statements in the Company’s SEC filings and public statements. Although the motion has just been brought to the Company’s attention, based on an initial review, the Company believes that the District Court should deny the motion and intends to aggressively oppose it.
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Ceragon Networks Ltd.
Phone: (201) 853-0271