Representation of Phoenix Pension and Gemel

Our firm represented Phoenix Pension and Gemel in appeal proceedings against a decision certifying a class action in connection with a change to the investment policy of Keren Hishtalmut (Education) funds. The State appeared as a party to the appeal and supported Phoenix’s arguments. This week, the National Labor Court issued its judgment, unanimously allowing the appeal, reversing the decision certifying the class action, and ordering the certification applicant to pay costs.