Tihama's subsidiary files lawsuit against Mohammed Wafa, claims SAR 839,000

04/01/2023 Argaam

Tihama's subsidiary files lawsuit against Mohammed Wafa, claims SAR 839,000

Logo of Tihama Advertising and Public Relations Co.

Tihama Advertising and Public Relations Co. announced that its subsidiary, Integrated Production Co. for Audiovisual Media Production, filed a lawsuit, on Jan. 2, against Mohammed Fayez bin Talat Wafa before the Riyadh General Court, according to a statement to Tadawul.

 

The subsidiary filed the case to claim an amount of SAR 838,994 in return for squandering of petty cash and in-kind properties, which was received but not returned, the company added.

 

It is too early to determine the financial impact of the case, the statement said. Any material development will be reported in due course.

 

Based on the documents available, the company obtained legal advice affirming its right to demand compensation from the defendant for the resulting damages. It does not expect to bear any responsibility due to filing the lawsuit.

 

Tihama assigned an external lawyer to respond to the lawsuit and defend its interests, the statement noted.

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