Gilat Satellite Networks, Ltd.

A class action lawsuit was commenced on behalf of all persons and entities who purchased or otherwise acquired the securities of Gilat Satellite Networks, Ltd ("Gilat") between November 13, 2000 and October 2, 2001, inclusive (the "Class Period"). The complaint names Gilat, Yoel Gat and Yoav Leibovich as Defendants. The complaint alleges that Defendants failed to disclose to investors that the demand for and acceptance of Gilat's products and the products of its subsidiary, StarBand Communications, Inc., were greatly overstated; that Gilat was having difficulty manufacturing and selling its chief product, Very Small Aperture Terminal profitably; that Gilat's purported gross profit margins were false; that Gilat was materially understating its costs and expenses; and that Gilat, accordingly, would have to take massive charge-offs, numbering in the hundreds of millions of dollars in the future.

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Click here to view press release.

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To find out more about this case, please contact us at shareholderrelations@spornlaw.com or 212-964-0046.

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