Unima Investment Group Sues Ex-Executives Over Alleged Betrayal in $12 Million Deal
The investment group Unima, founded in 2022 with prominent Israeli figures including former Shin Bet chief Yaakov Peri, is embroiled in a significant legal dispute. Unima and its founder, Matan Sachayek, have filed a NIS 40 million (approximately $12 million) lawsuit in the Tel Aviv District Court against former CEO Meir Shahar, former legal counsel Yoram Piron, businesswoman Shira Tzadik-Doler, and the holding company Liberty Sky.
The lawsuit centers on Pitkit, a long-standing industrial company that manufactures labels, sleeves, and packaging products, and notably produces the raw materials for Israel's biometric identity cards. Pitkit's owners were seeking to sell the company due to a generational transition. Unima entered negotiations in early 2022, signing a memorandum of understanding in April to acquire 100% of Pitkit for NIS 45 million (approximately $13.5 million).
Unima conducted due diligence and engaged in months of negotiations. However, in July 2022, Pitkit canceled the memorandum of understanding, citing a "loss of trust." Unima alleges that during this period, Shahar and Piron, while still acting on Unima's behalf, secretly negotiated to acquire the company for themselves. Unima claims they exploited confidential information, contacts, and due diligence findings from their roles within Unima to seize a business opportunity.
Shahar denies the allegations, stating that Unima chose to breach the memorandum of understanding due to difficulties meeting its terms. He claims he only began pursuing the acquisition of Pitkit with his partner, Tzadik-Doler, after the deal with Unima was officially canceled. Liberty Sky, established in September 2022 with Tzadik-Doler and Shahar as significant shareholders, subsequently purchased Pitkit for the same NIS 45 million price.
Unima is seeking NIS 40 million from the defendants, representing the profits and economic value they claim were wrongfully taken. No defense statements have been filed yet. Piron has called the lawsuit "baseless," and Shahar maintains Unima's inability to meet the deal's conditions led to its collapse. Yaakov Peri, who was involved in discussions regarding Pitkit and reportedly warned Shahar against conflicts of interest, is not a defendant in this lawsuit and has since left Unima.
