Robbie Hargett Mar. 11, 2016, 3:15pm


NEW YORK (Legal Newsline) - An investor is suing a food company and several of its chief officers, alleging they made false and misleading statements.

Michael Boller, individually and for all others similarly situated, filed a class action lawsuit Feb. 29 in U.S. District Court for the Southern District of New York against G. Willi-Food International, Gregory Gurtovoy, Gil Hochboim, Itai Loewenstein, Raviv Segal, Pavel Buber, Iram Greiver, Ilan Admon, and Ayelet Eliav, alleging violations of federal securities laws.

The suit alleges between April 30, 2014, and Feb. 18, 2015, the defendants made materially false and/or misleading statements to the investing public because they misrepresented and failed to disclose adverse facts about G. Willi-Food's business, operational, and financial results.

  

Specifically, the complaint states, the defendants failed to disclose that Gurtovoy and others illegally transferred money out of G. Willi-Food. When this fact became known, the suit says, the market value of the company's securities saw a precipitous decline, resulting in significant losses and damages for Boller and other class members.

Boller and others seek a jury trial, damages, interests, attorney fees, expert fees and other costs. They are represented by attorneys Phillip Kim and Laurence M. Rosen of The Rosen Law Firm in New York.

U.S. District Court for the Southern District of New York Case number 1:16-CV-01528-CM

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U.S. District Court for the Southern District of New York New York Division
500 Pearl Street
New York, NY 10007

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