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Israel Approves Bill Shielding Small Businesses From Class Action Lawsuits
The Knesset's Constitution and Economy committees approved amendments to the Class Action Law, shielding businesses with annual revenues up to 9 million shekels from class action lawsuits.
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What happened
- 01Small businesses with annual revenues up to 9 million shekels are now exempt from class action lawsuits in Israel.
- 02Approximately 660,000 businesses, or 93% of all businesses in Israel, will benefit from the new law.
- 03The amendment was approved for a second and third reading by a joint Knesset committee.
- 04Former MK Avir Kara and the Israel Export and International Cooperation Institute were key proponents of the bill.
- 05The protection threshold was raised from an initial proposal of 2 million shekels to 9 million shekels.
- 06Individual lawsuits against these businesses remain permissible.
This change, championed by former MK Avir Kara and the Israel Export and International Cooperation Institute, will protect about 93% of Israeli businesses. The amendment allows for individual lawsuits, and the protection threshold was raised from an initial proposal of 2 million shekels.
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