Civil Case (Tel Aviv) 45944-12-20 Helen Travis v. Global Guardianship Technologies (2010) Ltd.

Prior to the lawsuit filed by Ms.  Helen Travis (hereinafter: "the Plaintiff"), a resident and citizen of England, against three defendants - Global Up Technologies (2010) Ltd., which is a company incorporated in Israel as a private company and which was formerly called E.T.  Binary Options in a tax appeal (hereinafter: "Global" or "E.T."), Oren Shabbat Laurent (hereinafter: "Shabbat") - who is a shareholder in Global and is alleged to have served as an officer therein and Sagiv Avisror (hereinafter: "Avisror"), who was a global employee at the relevant times of the lawsuit and according to the plaintiff, acted with it, under the name "Steven Collins" (hereinafter: "Avisror").  In the framework of the lawsuit, it was claimed in summary that the plaintiff was the victim of fraud on the part of the defendants jointly, who falsely persuaded her to invest in binary options, under the "option FM" platform, in the period between July 2015 and September 2016, and as a result, in the end, the plaintiff lost almost all of her investment funds in an amount exceeding one million US dollars.

Introduction - Background and Arguments of the Parties;

1. Since the center of the discussion is binary options trading, in order to understand the argument and as a general background, I find a few words to preface with the explanation regarding this trading tool. In order to be quoted on behalf of the speaker, I will note that this review is based on explanations as detailed in the administrative (economic) petition 26602-01-17 G.  Fairtrade in Tax Appeal v.  Tel Aviv Securities Authority [Nevo] (March 2, 2017) (hereinafter: the "Fairtrade Case"), by the Honorable Judge Ruthie Ronen.

First, in the matter of Firetrade, it was clarified that: "An "option" is a financial instrument belonging to a group of financial instruments known as "derivatives".  Derivatives are agreements whose outcome depends on the value of the particular underlying asset that the agreement relies on.  The underlying asset can be an actual asset (such as grain or stock); a rate (such as a foreign currency exchange rate); or an index (such as an index of a group of shares) (see S.  Hans and A.  Feigenbaum, "A New Study of the Definition of 'Security' in Israeli Law," Law and Business, 5767, 11, 20 at p.  18 (hereinafter: "Hans and Feigenbaum").  The value of options (including binary options) is therefore derived from an "underlying asset", where the option defines the underlying asset as well as the exercise price and the expiration date of the option."