Saudi Darb says lawsuit against former board members accepted

17/07/2025 Argaam
Logo ofSaudi Darb Investment Co.

Logo of Saudi Darb Investment Co.

Saudi Darb Investment Co. (formerly Al Baha Investment and Development Co.) said the lawsuit filed against former board members for the term from Feb. 10, 2010, to Feb. 9, 2013, has been accepted.

 

The case has been registered with the General Secretariat of the Securities Disputes Resolution Committees, with the necessary requirements being underway.

 

In a statement to Tadawul today, July 17, the company added that it is following up on developments in this regard.

 

It indicated that the related costs cannot be determined at present, underlining that any related developments will be announced in due course.

 

According to Argaam’s data, last May, the company filed a complaint with the Capital Market Authority (CMA) against former board members, who served from Feb. 10, 2010, to Feb. 9, 2013.

 

It claimed the former board members had signed a contract to sell company assets under which the company acquired a crusher, a cement concrete project, and a hollow core project from Al-Sateaa Modern Contracting Co. for SAR 86 million.

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