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Investigation announced for Investors in shares of Bank Hapoalim B.M. (OTC: BKHYY)

05-15-2020 01:24 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in Bank Hapoalim B.M. (OTC: BKHYY) shares over potential securities laws violations.

An investigation for investors in Bank Hapoalim B.M. (OTC: BKHYY) shares over potential securities laws violations.

An investigation was announced over potential securities laws violations by Bank Hapoalim B.M. and certain of its directors and officers in connection with certain financial statements.

Investors who purchased shares of Bank Hapoalim B.M. (OTC: BKHYY), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Bank Hapoalim B.M. (OTC: BKHYY) concerning whether a series of statements by Bank Hapoalim B.M. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Israel based Bank Hapoalim B.M., together with its subsidiaries, provides various banking and financial products and services in Israel and internationally. Bank Hapoalim B.M. reported that its annual Total Revenue declined from over 14.74 billion ILS in 2018 to over 13.19 billion ILS in 2019, and that its Net Income declined from over 2.59 billion ILS in 2018 to over 1.799 billion ILS in 2019.

On March 7, 2019, Bank Hapoalim B.M. issued a press release announcing that the bank was increasing its provision "in relation to the exposure stemming from the investigations of the U.S. authorities, by approximately USD 246 million" for an aggregate total provision of $611 million.

Shares of Bank Hapoalim B.M. (OTC: BKHYY) declined from $3.77 per share on March 6, 2020, to as low as $21.73 per share on March 23, 2020.

Those who purchased shares of Bank Hapoalim B.M. (OTC: BKHYY) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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