Shareholders Seek NIS 182 Million Derivative Suit Over Luzon–Tarya Merger

Two shareholders in Luzon Credit and Finance, formerly Tarya, are seeking court permission to pursue a NIS 182 million derivative claim on the company's behalf. The application to Tel Aviv District Court's Economic Department targets Amos Luzon, Luzon Group, directors who approved the 2022 merger, former Tarya controllers and valuation firm C-Value. The applicants allege that the merger valuation relied on erroneous financial statements. Their earlier class-action application was dismissed three weeks ago because the alleged harm was to the company rather than shareholders personally, prompting the derivative route.