Religious Zionism MK Tzvi Sukkot on Sunday approached the CEO of the Israel Securities Authority demanding that he launch an investigation against protest leaders Moshe Redman and Shikma Bressler who called on social media to purchase shares of Big, Israel’s leading operator of shopping centers. Sukkot argued that “this call is tantamount to running stocks since it attempts to motivate individuals to purchase securities,” MK Sukkot said.
The BIG group announced on Sunday that if the bill amending the reasonability clause is passed on Monday in its current form in a first reading by the coalition parties, on Tuesday all the BIG malls from Kiryat Shmona in the north to Eilat in the south will be shut down.
Big’s stock took a dive at the Tel Aviv stock exchange as a result, which generated the response by Redman and Bressler in an attempt to push the stock back up again.
Redman posted an online purchase form for Big in a tweet and added: “Friends buy at Big and buy Big. For those who can afford to purchase Big shares, now is the time. The liberal public in Israel (from all ends of the spectrum) needs to show its support and strength.
Redman’s online solicitation for Big shares:
חברים קונים בביג וקונים את ביג. מי שיכול לרכוש מניות של ביג, זה הזמן. הציבור הליברלי בישראל (מכל קצוות הקשת) צריך להראות את תמיכתו ואת כוחו ❤️??✊ pic.twitter.com/cVHFVBDMgJ
— Moshe Radman משה רדמן (@RadmanMoshe) July 9, 2023
MK Sukkot cited a district court ruling according to which it doesn’t matter if the two activists did not issue their call out of a desire for financial profit, “since making such a profit is not a component of the crime. By their actions, Mr. Redman and Mrs. Bressler allegedly harmed the integrity and fairness of trading in securities at the Tel Aviv Stock Exchange, and the ability of the investing public to assess the risks and prospects of each investment.”
Sukkot added that the two activists “damaged the public’s trust in the stock market, which is a cornerstone of its viability. In view of this, and taking into account the wide distribution of their posts, I ask for an investigation against Mr. Moshe Redman and Mrs. Shikma Bressler.”
“Regarding the legality of the shutdown,” Sukkot said, “as you know, Big is a publicly traded company on the stock exchange, and as such it is obligated to only take steps that will benefit the shareholders – and it is not at all clear that according to the law, the company’s owners are allowed to take a step such as a political shutdown with obvious repercussions for their shareholders.”
Incidentally, BIG CEO Chai Galis on Monday at 7 AM received an unexpected wakeup call from Im Tirtzu activists outside his Tel Aviv home.
Im Tirtzu Chairman Matan Peleg announced: “First of all, we thank all the citizens of Israel and our elected officials who joined our just protest against the directors of the BIG group. This event where capitalists use their power to punish the majority of the people if only because they do not share the same political views, is a despicable thing. The people of Israel will not accept this in their Jewish and democratic state. There will be no second-class citizens here. Those who try to harm the citizens of Israel will pay a heavy economic price for it. You can ask Angel Bakery and the Fox chain – our hand is still extended.”
