Company: INCR
Filing Date: 2025-05-01
Form Type: 20-F
Source: 0001641172-25-007971
Chunk: 206

Company: Intercure Ltd.
Filing Date: 2025-05-01
Form: 20-F
Item: Item 18
Chunk 206
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                                                                                 to determine that the representative class will consist of “any consumer of licensed                                                                         
                                                                                    cannabis and any consumer of unlicensed cannabis starting from the year 2020.”                                                                            
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The claimed compensation in the Approval Request amounts to NIS 420 million. Additionally, the applicants argue that they are entitled to a monetary reward of NIS 42 million and that punitive damages amounting to NIS 84 million are also due.
 
In the Approval Request, the applicants argue that the actions of the respondents constitute criminal offenses under the Dangerous Drugs Ordinance [New Version] -1973, and the Prohibition of Advertising and Restriction on the Marketing of Tobacco Products and Smoking, 5743-1983, seemingly making the respondents criminal organizations as defined in the Combating Criminal Organizations Law, 5763-2003. The applicants also claim violations of consumer-business relations contrary to the General Contract Law, Consumer Protection Laws, and unjust enrichment principles. On July 20, 2023, the respondents filed a request to dismiss the Approval Request. On December 11, 2023, a preliminary hearing was held before the court, during which the court addressed all the difficulties arising from the request for approval. 
 
On January 10, 2024 the applicants submitted their responses to the cannabis companies request to dismiss the Approval Request. The applicants also submitted to the court a motion seeking amendments to the approval request. On February 20, 2024, the cannabis companies responded to the motion to amend the Approval Request and claimed that the court should reject the motion. A pre-trial was scheduled for June 26, 2024.
 
On May 16, 2024, the court dismissed the applicants’ motion to amend the Approval Request and granted the respondents’ motion for summary dismissal, thereby rejecting the class action at this preliminary stage. The court also dismissed the applicants’ personal claims and ordered them to pay legal costs and attorneys’ fees of NIS 10,000 to each respondent, to be paid within 30 days from the date of the ruling.
 
 
F-51
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Note 16 – Commitments, Charges and Contingent Liabilities (Cont.)
 
On July 14, 2024, an appeal was filed with the Israeli Supreme Court under Civil Appeal No. 5709-24, (the “Appeal”), challenging the May 16, 2024 ruling of the District Court in Class Action – T.Z. 25114-04-23. In