Amendment no. 10 of the Class Action Law 2006 (Hebrew)

We wish to update you on amendment 10 (the “Amendment”) of the Class Actions Law 5766-2006 (the “Law”) which came into force on July 27, 2016. As described below, the main elements of the amendment are: the expansion courts’ supervisory powers regarding the approval of settlement agreements submitted in the framework of class actions, the expansion of the mechanism to bring objections to settlement agreements. The amendment also includes a strengthening of the supervisory mechanism that ensures that settlement agreements are carried out, though, among other ways, making the fees of the representative plaintiff’s lawyer contingent on the execution of the agreement.

Please find the full legal update here (Hebrew)