The State Attorney's Office responded to the decision of the Supreme Court to reject Nochi Dankner's appeal and to increase his sentence.
"In this case, the controlling shareholder of the largest holding company in the economy at the time, on one hand, approached and invited the public to invest hundreds of millions of shares in the company, and the other hand, Behind the scenes a move was made to paint an attractive picture to investors, and the offenses in which the two defendants were convicted are extremely grave - massive manipulation and fraudulent reporting in public offerings."
The High Court of Justice adopted the State Attorney's Office's position and held that the punishment threshold for such offenses requires severe and harsh punishment and years of imprisonment.
The decision today unequivocally clarifies that all capital market activists - controlling shareholders and investors - must be honest, transparent and fair in the capital market. "