MY SIZE, INC. (NYSE:MY) Files An 8-K Other EventsItem 8.01 Other Events.
My Size, Inc. (the “Company”) wishes to report the following as it relates to the Company’s current report on Form 8-K filed on May 4th, 2017:
On May 7th 2017, the Company was served with an application to approve a shareholders’ class action (which was filed with the Tel Aviv District Court on May 3rd, 2017) against the Company, its board members and its CFO (the "Application").
The Application alleges, inter alia, that the Company’s report of April 19th, 2017 regarding its engagement with the Israeli Post was false and misleading, and that as a result thereof financial damages have been incurred by two purported classes of shareholders: (i) any shareholder who sold Company’s shares as of April 20th, 2017 and until April 27th, 2017, with respect to damage directly caused by such sale and (ii) any shareholder which held shares on April 20th, 2017 and subsequent to April 27th, 2017 with respect to damage caused by permanent adverse effect to the shares’ value. The alleged financial damage caused to members of both classes is estimated at NIS 18.8 million.
The Company reviewed the Application initially with its legal counsel. At this preliminary stage, the Company believes that there is no direct causal connection between the Company’s report which is the subject matter of the Application and the alleged damages caused to either class of purported plaintiffs and that in any case there appears to be no correlation between the alleged scope of damages and the merits of the alleged case.
The Company’s is reviewing its rights to file a third party claim (notice) against third parties the unlawful acts or omissions of which may have had an adverse effect on the Company’s share price and may have contributed to any alleged damage which may have been caused to any of the classes of alleged plaintiffs. The Company will respond to the Application in the time frame ordered by the Court.
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MY SIZE, INC. (NYSE:MY) Recent Trading Information
MY SIZE, INC. (NYSE:MY) closed its last trading session at with 701,760 shares trading hands.