Supreme Court accepts FBC's appeal on behalf of Israel Discount Bank in NIS 7B cartel class action

FBC represents Israel Discount Bank, in an estimated NIS 7B class action filed against it and two other banks on grounds relating to an alleged cartel with respect to interest rates. In July 2013, the Supreme Court accepted the request for appeal and canceled the District Court’s decision to certify the class action and ruled that the application to certify the class action should be reheard by the District Court.