-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, B2j1jjILPYwzbB0aZjgnIxVJNiysAcAvqZG9zDUA/R/875LoQQ/NueK7zB95lAjG WQzadrZyrxvzZZZ3fGJ90A== 0001179591-08-000022.txt : 20080324 0001179591-08-000022.hdr.sgml : 20080324 20080324083844 ACCESSION NUMBER: 0001179591-08-000022 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20080324 DATE AS OF CHANGE: 20080324 GROUP MEMBERS: ERIC PANETH FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PANETH ERIC CENTRAL INDEX KEY: 0001220575 FILING VALUES: FORM TYPE: SC 13D/A MAIL ADDRESS: STREET 1: 126 YIGAL ALLON ST STREET 2: TE CITY: TEL AVIV ISRAEL STATE: L3 ZIP: 9999999999 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ORCKIT COMMUNICATIONS LTD CENTRAL INDEX KEY: 0001021620 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE & TELEGRAPH APPARATUS [3661] IRS NUMBER: 000000000 STATE OF INCORPORATION: L3 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-55667 FILM NUMBER: 08705845 BUSINESS ADDRESS: STREET 1: 38 NAHALAT YITZHAK ST STREET 2: TEL AVIV CITY: ISRAEL STATE: L3 ZIP: 67448 BUSINESS PHONE: 01197236962121 MAIL ADDRESS: STREET 1: 38 NAHALAT YITZHAK ST STREET 2: TEL AVIV CITY: ISRAEL STATE: L3 ZIP: 67448 SC 13D/A 1 form13da240308e.txt SC 13D/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13D/A Under the Securities Exchange Act of 1934 (Amendment No. 6)* Orckit Communications Ltd. (Name of Issuer) Ordinary Shares, no par value (Title of Class of Securities) M7531S 20 6 (CUSIP number) Eric Paneth c/o Orckit Communications Ltd. 126 Yigal Allon Street Tel Aviv 67443 Israel 972-3-696-2121 (Name, address and telephone number of person authorized to receive notices and communications) December 8, 2007 (Date of Event Which Requires Filing of This Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent. - --------------- *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. M7531S 20 6 SCHEDULE 13D 1. Names of Reporting Persons Eric Paneth 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. SOURCE OF FUNDS OO 5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [ ] 6. CITIZENSHIP OR PLACE OF ORGANIZATION Israel NUMBER OF 7. SOLE VOTING POWER 1,679,267(1) SHARES BENEFICIALLY 8. SHARED VOTNG POWER 0 OWNED BY EACH REPORTING PERSON 9. SOLE DISPOSITIVE POWER 1,259,267(1) WITH 10. SHARED DISPOSITIVE POWER 0 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,679,267 (1) 12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 10.0%(2) 14. TYPE OF REPORTING PERSON IN - ----------------------------------- (1) Includes options and/or rights to acquire 480,000 ordinary shares exercisable currently or within 60 days. (2) Based on 16,363,884 ordinary shares outstanding as of February 29, 2008. Item 5. Interest in the Securities of the Issuer (a), (b) See the responses (and footnotes) to Items 7 through 11 and 13 of the cover page. The aggregate of 1,679,267 Ordinary Shares (representing approximately 10.0% of the outstanding Ordinary Shares of Orckit) beneficially owned by the Reporting Person consists of (i) 1,199,267 Ordinary Shares and (ii) options to acquire 420,000 Ordinary Shares at an exercise price of $27.12 per share and options to acquire 60,000 Ordinary Shares at a nominal exercise price. The Reporting Person has sole voting and dispositive power with respect to all such Ordinary Shares, except for 420,000 Ordinary Shares pledged to Credit Suisse Securities LLC under a forward sale contract, with respect to which the Reporting Person has only voting power. (c) As reported in December 2005 on Amendment no. 4 to this Schedule 13D, on December 8, 2005, the Reporting Person established a two-year, irrevocable blind trust with respect to 215,000 Ordinary Shares. The Reporting Person was not deemed to beneficially own the shares held by the trust. As anticipated, upon the expiration of the trust on December 8, 2007, the shares were distributed from the trust to the Reporting Person, causing the Reporting Person to become the beneficial owner of such shares. SIGNATURE After reasonable inquiry and to the best knowledge and belief of the undersigned, the undersigned certifies that the information set forth in this statement is true, complete and correct. Date: March 24, 2008 By: /s/Eric Paneth ----------------- Eric Paneth -----END PRIVACY-ENHANCED MESSAGE-----