NETANYA, Israel — The law office of Jacob Sabo (Tel Aviv, Israel) has filed a class action lawsuit in the District Court for the Northern District of California, claiming that inspection systems specialist Camtek Ltd. (Migdal Haemek, Israel) and some of its executives violated federal securities laws.

The lawsuit was filed on behalf of all those who bought Camtek common stock between November 22, 2005, and December 20, 2006.

The lawsuit claims Camtek and the executives are responsible for material omissions and dissemination of materially false and misleading statements concerning Camtek's business and prospects that caused the company's stock price to become artificially inflated, inflicting damages on investors.

Camtek's AOI systems are used in the production of PCBs, high-density substrates for interconnection of integrated circuit devices, and semiconductor manufacturing and packaging.

The complaint alleges that over the period, defendants artificially inflated the price of Camtek shares by issuing statements touting positive trends in the PCB and semiconductors markets and the strength of Camtek's business and financial performance.

The lawsuit said:"the company's business and future prospects were, at minimum, reckless."

The complaint suggests Camtek and the executives engaged in this course of conduct in order to generate proceeds from a private placement with institutional investors in April 2006 in which the company raised approximately $15 million.

The lawsuit aims to recover damages on behalf of the class members.