Sullivan
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In a notable ruling from Israel’s Economic Department of the Tel Aviv District Court, Sullivan successfully represented Alarum Technologies Ltd. and two of its senior officers in a securities class action.

The proceeding began with a motion to certify a class action filed in Israel in January 2025, alleging misleading disclosures to the market. Shortly thereafter, a parallel class action based on substantially similar allegations was filed in the United States (New Jersey).

Our cross-border team led by Noa Azoulay-Havdala and Amichay Tessler (Israel), together with Gerry Silver (U.S.), represented Alarum Technologies and its senior officers throughout.

From the outset, our cross-border team took a strategic, coordinated approach to manage the multi-forum exposure. In the first stage, our Israeli team sought and obtained a stay of the Israeli proceeding to allow the parallel U.S. action to be addressed first — a deliberate strategy in light of the procedural posture and the higher likelihood of early dismissal in the U.S. forum.

That strategy paid off: the U.S. plaintiffs moved to voluntarily withdrawal their action, and the New Jersey court approved their withdrawal.

Following these developments, in the second stage, through disciplined, assertive case management and effective negotiation led by our Israeli team, the parties filed a consensual motion to dismiss the motion to certify the claim as a class action in Israel — without any reward to the plaintiff and without any award of costs to his counsel. The Israeli court dismissed with prejudice the plaintiff's personal claim, and dismissed without prejudice the motion to certify a class action.

This outcome saved our clients from potentially long and expensive securities class action cross-border proceedings, which can often run for several years.

Disclaimer: This post is for general informational purposes only and does not constitute legal advice.