Controlling shareholder and directors’ liability for the removal of the company’s shares from indexes
The Tel-Aviv District Court (Economic Division) decided that the controlling shareholder and the directors of a company may be directly liable towards the company’s minority shareholders for the removal of the company’s shares from the indexes in which they were included, when such removal was the result of the controlling shareholder’s acquisitions which were intended to lower that shares’ value prior to a full tender offer.
