Bank Hapoalim Settles Lawsuit Over Delayed Stock Quotes

Bank Hapoalim, Israel's largest bank, has reached a settlement in a class-action lawsuit concerning the inaccurate display of stock market quotes on its digital platforms. The Haifa District Court officially approved the agreement, which resolves claims that the bank presented delayed data as if it were real-time.

The lawsuit stemmed from allegations that the bank's website and mobile app often showed stock quotes with a fifteen-minute delay without clear notification. When delays were indicated, the information was presented in very small, easily missed font. The settlement requires Bank Hapoalim to implement significant interface upgrades and pay substantial compensation.

Under the terms of the agreement, the plaintiff will receive 36,000 shekels, and the bank will pay 150,000 shekels plus VAT for legal services. Within ninety days, the bank must introduce clearer visual markers on its website to distinguish between real-time and delayed quotes, using distinct icons for each. A legend will explain these symbols.

The bank's mobile app interface will also be updated to explicitly state that Israeli securities are displayed in real-time, while foreign assets have a fifteen-minute delay. This notification will be present on every screen. Additionally, the process for subscribing to real-time data for major foreign exchanges like the New York Stock Exchange, NASDAQ, and OPRA will be simplified, allowing subscriptions directly through the mobile app.