CLASS ACTION LAWSUIT FOR ISRAELI INK CARTRIDGE RETAILER

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CLASS ACTION LAWSUIT FOR ISRAELI INK CARTRIDGE RETAILER

 user 2008-06-05 at 11:20:19 am Views: 54
  • #20090

    http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/06-04-2008/0004826087&EDATE=
    Blue Square Announces its Subsidiary Served With a Claim and Request for Approval as a Class Action
     Israel, June 08– BlueSquare-Israel Ltd.  (hereinafter: “Blue Square”) announced that on June 3, 2008 its subsidiary the Blue Square Chain (Hyper Hyper) Ltd.(hereinafter: “Hyper”) was served with a claim and a request for approvalas a class action (the “Claim”), in which Hyper is being sued together withother defendants, regarding the marketing of ink cartridges.

    The Claim alleges that the defendants coordinated the prices of certain Hewlett-Packard (“HP”) ink cartridges sold by them, in a way that constitutes allegedly an agreement in restraint of trade. According to the claim, the defendants allegedly sell HP ink cartridges for a higher price than the price charged for such ink cartridges by smaller retailers. The plaintiff’s personal claim is estimated at NIS 496 and if the Claim is approved as a class action, the approximate claim against all the defendants is estimated by the plaintiff at NIS 81 million (against all defendants). The Claim requests relief in the form of declaration of an agreement in restraint of trade, monetary compensation and a mandatory injunction to stop alleged price coordination.

     Hyper is currently reviewing the Claim and denying all above allegations, however, at this preliminary stage of the proceedings, it is unable to evaluate its likelihood of success in the proceedings, including the likelihood that the Claim will be certified as a class action.Blue Square-Israel Ltd. is a leading retailer in Israel. A pioneer of modern food retailing, in the region. Blue Square currently operates 188 supermarkets under different formats, each offering varying levels of services and prices. For more information, please refer to the Blue Square-Israel Ltd. website at http://www.bsi.co.il.