The lawsuit was filed in the central district court in Israel by eight shareholders (Israeli companies and individuals) against the Company, all of its directors at the time of the filing and York Capital Management, a major shareholder of Gilat (which was later dismissed from the claim). The plaintiffs claimed damages based on the amounts they would have been paid upon closure of a merger agreement signed March 31, 2008, with a consortium of buyers.
The court dismissed the lawsuit in its entirety and awarded Gilat with legal expenses. The court found that the executives of Gilat, led by the Chairman of the Board, Mr. Amiram Levinberg, then also Chief Executive Officer, acted impeccably, professionally and in good faith, putting the interests of Gilat and its shareholders first.
The plaintiffs have the right, within the next 45 days, to appeal to the Supreme Court in an attempt to change this ruling.
Additionally, Gilat is offering a free, live webinar on October 30, 2013, from 12:00 to 1:00 p.m., EDT, entitled "Over The Horizon—Satellite Communications For Unmanned Aerial Systems (UAS)."
The webinar will assist attendees in understanding how satellite communications can enable beyond line of sight (BLoS) operations for unmanned aerial systems (UAS) to support intelligence, surveillance and reconnaissance (ISR) missions. Real world examples will be discussed to illustrate the benefits and success achieved in these areas. The webinar will focus on the following areas:
- UAS market and types
- Benefits of BLoS operation for UAS ISR mission
- Implementing BLoS capability with satellite communication
- Solutions for BLoS UAS operations
- Case study
This webinar is a must attend for UAS manufacturers and professionals who wish to learn what is required to best exploit BLoS tactical UAS capabilities. Upon registering, you will receive a confirmation email with directions for joining the Webinar.