The court decision was handed down after the parties failed to reach a compromise to continue regular management of SofaWare Technologies.
Hebrew daily “Yediot Ahronot” reports that the legal battle between SofaWare Technologies managing director Adi Ruppin and Check Point (Nasdaq: CHKP) over its partnership in SofaWare has been won by Check Point. Judge Yehuda Zaft rejected Rupin's position over the appointment of SofaWare directors.
The court ruled that the company's board of directors may appoint five directors, including two Check Point representatives. Zaft thus rejected Rupin's claim that the composition of the five-member board did not reflect his 44% holding in the company.
Zaft also ordered Rupin to pay NIS 50,000 in court costs, and noted that there was no reason to include Check Point CEO Gil Shwed as a party in the suit. The "gross and aggressive language against him" was also out of place. The court decision was handed down after the parties failed to reach a compromise to continue regular management of SofaWare.
Published by Globes [online] - www.globes.co.il - on September 11, 2003