NEW YORK, April 8, 2016 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in G. Willi Food-International Ltd. ("G. Willi" or the "Company") (NASDAQ:WILC) of the April 29, 2016 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased G. Willi securities between April 30, 2014 and February 18, 2016 (the "Class Period"). The case, Boller et al v. G. Willi-Food International Ltd. et al, No. 1:16-cv-01528 was filed on February 29, 2016, and has been assigned to Judge Colleen McMahon.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that certain company executives, including Defendant Gregory Gurtovoy, may have been involved in fraud and money laundering.
Specifically, on February 17, 2016, an article published in the publication Calcalis reported that the Company's offices had been raided by Israeli authorities. Meanwhile, Reuters reported that Defendant Gurtovoy had been arrested and questioned by Israeli authorities on charges of fraud and money laundering.
After the announcement, Cigna's share price fell from a closing price of $4.17 per share on February 17, 2016 to a closing price of $3.95per share on February 18, 2016 — a $0.22 or a 5.3% drop.
Then, on February 18, 2016, G. Willi revealed in a press release that the Company, its directors and executives as well as its parents companies were being investigated by Israeli authorities for violations of Israeli securities laws and criminal offenses.
After the announcement, G. Willi's share price fell from a closing price of $3.95 per share on February 18, 2016 to a closing price of $3.75 per share on February 19, 2016 — a $0.20 or a 5.1% drop.
If you invested in G. Willi stock or options between April 30, 2014 and February 18, 2016 and would like to discuss your legal rights, visit www.faruqilaw.com/WILC. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected]. Faruqi & Faruqi, LLP also encourages anyone with information regarding G. Willi's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class that is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
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FARUQI & FARUQI, LLP 685 Third Avenue, 26th Floor New York, NY 10017 Attn: Richard Gonnello, Esq. [email protected] Telephone: (877) 247-4292 or (212) 983-9330