HADERA, Israel, Sept. 5 LAWFUEL – Legal News Network — American Israeli Paper Mills Ltd. (Amex: AIP) (the “Company” or “AIPM”) announced that a petition was filed against Hogla-Kimberly LTD (H-K), an affiliated company (49.9%), for the approval of a class action.
According to the petition H-K
has reduced the number of units of diapers in a package of its “Titulim”
brand and thus mislead the public according to the Israeli Consumer
Protection Act. The plaintiff estimates the scope of the class action to be NIS 47 million. H-K rejects the claims and intends to defend itself against the action. At this early stage H-K is not able to assess the chances of the class action and its influences.