Legal Proceedings Report • Aug 6, 2025
Legal Proceedings Report
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This is an unofficial AI generated translation of the official Hebrew version and has no binding force. The only binding version is the official Hebrew version. For more information, please review the legal disclaimer.
MIGDAL INSURANCE & FINANCIAL HOLDINGS LTD.
Registration Number: 520029984
To: Israel Securities Authority To: Tel Aviv Stock Exchange Ltd. Form Number: T121 (Public) Transmitted via MAGNA: 06/08/2025 Israel Securities Authority website: www.isa.gov.il Tel Aviv Stock Exchange website: www.tase.co.il Reference: 2025-01-058291
Explanation: Do not use this form when there is a form tailored to the reported event.
This reporting form is intended for material reports for which there is no suitable dedicated form.
Results of an issuance should be reported in T20 and not in this form.
Reports on bond ratings or corporate ratings should be submitted using Form T125.
Nature of the Event:
Request for Approval of a Class Action Lawsuit
Reference numbers of previous reports on the subject: _________, _________, _________.
This is an unofficial AI generated translation of the official Hebrew version and has no binding force. The only binding version is the official Hebrew version. For more information, please review the legal disclaimer.
A notice is hereby given that a lawsuit and a request for its approval as a class action have been filed against the subsidiary, MIGDAL INSURANCE & FINANCIAL HOLDINGS LTD. (hereinafter: "Migdal Insurance"), in the Tel Aviv Regional Labor Court (hereinafter: the "Lawsuit" and the "Approval Request", respectively). The subject of the Approval Request is the claim that when Migdal Insurance acts to collect debts from employers for contributions that should have been made for the benefit of the employee, it takes from the funds collected by it amounts to finance its expenses, allegedly in violation of the law. The group on whose behalf the Approval Request is submitted against Migdal Insurance is defined as: "Any insured and/or their heirs and/or beneficiaries, for whom, at the time of collecting funds owed to them by their employer, the respondent collected into its own account funds for its expenses, from 7 years prior to the date of submission of the Approval Request until the date of approval of this lawsuit." The main causes of action are claims of violation of the Wage Protection Law and the Supervision of Financial Services (Provident Funds) Law; breach of the duty of good faith under the Contracts Law; breach of statutory duty under the Torts Ordinance; unjust enrichment; negligence. The main remedies sought are to order Migdal Insurance to cease the alleged collection of funds in violation of the law; restitution to the group members; and compensation. The claimed monetary damage of the applicant is estimated at NIS 5,059. The total claimed damage of the group members has not been estimated.
Attached file: _________
The company is not a shell company as defined in the Stock Exchange regulations.
The date the corporation first became aware of the event: 06/08/2025 at 09:10
| No. | Name of Signatory |
Position |
|---|---|---|
| 1 | Adv. Sarit Perlmutter-Sugarman |
Company Secretary |
This is an unofficial AI generated translation of the official Hebrew version and has no binding force. The only binding version is the official Hebrew version. For more information, please review the legal disclaimer.
Explanation: According to Regulation 5 of the Periodic and Immediate Reports Regulations (1970), a report submitted under these regulations must be signed by those authorized to sign on behalf of the corporation. The staff's position on the matter can be found on the Authority's website: Click here.
Securities of the corporation are listed for trading on the Tel Aviv Stock Exchange
Short name: Migdal Insurance
Address: 4 Afek St., Petah Tikva 4951229 Phone: 076-8868962, 076-8868959 Fax: 03- 9238988 Email: [email protected] Company website: www.migdal.co.il
Previous names of the reporting entity: MIGDAL INSURANCE & FINANCIAL HOLDINGS LTD.
Name of electronic reporter: Perlmutter-Sugarman Sarit Position: Company Secretary Employer company name: MIGDAL INSURANCE & FINANCIAL HOLDINGS LTD.
Address: 4 Afek St., Petah Tikva 4951229 Phone: 076-8868962 Fax: Email: [email protected]
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