Orion

The Capital Market Authority exposed severe governance failures at More Investment House over an unauthorized attempt to seize control of Orion's board using client funds. Financial sanctions are being considered.

Yoav Karmi and Ariel Prestman, owners of Ha-Bayta Living, will not join the Orion board of directors following the shareholders' vote. They failed to secure the required 51% majority.

The shareholders' meeting of the real estate company Orion will convene today to vote on the board of directors. The Capital Market Authority has intervened, questioning whether the investment house Mor is exceeding its role by attempting to take control of the company's management.

Tomorrow, the shareholders' meeting of the Orion company is expected to take place, where decisions regarding the composition of the board of directors will be made. The Meitav investment house and Ha-Bayta are seeking to appoint their own representatives, raising concerns about potential conflicts of interest.

The Capital Market Authority is intervening for the first time to limit institutional involvement in public company management. The regulator is demanding clarifications from the Mor investment house regarding its actions in Orion.

Investment house Mor and the HaBaita Living group have formed a coalition holding 25.1% of Orion's shares to challenge Chaim Katzman's influence. They are demanding the appointment of their own candidates to the board.