Saudi Darb finalizes lawsuit filing against former board members

Logo of Saudi Darb Investment Co.

Saudi Darb Investment Co. announced the completion of all formalities required by the General Secretariat of Committees for the Resolution of Securities Disputes (CRSD), pertaining to a complaint filed against former board members who served from Feb. 10, 2010, to Feb. 9, 2013.

The company is seeking joint and individual compensation of SAR 100 million.

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In a statement to Tadawul, the company said it cannot determine the financial impact at this stage, adding that any developments related to the case will be announced in due course.

Saudi Darb (formerly Al-Baha Investment and Development Co.) filed the complaint on May 8, 2025, with the Capital Market Authority (CMA) against former board members for the same aforementioned term, according to Argaam’s data.

At the time, the company said the former board signed an asset purchase agreement under which Al-Baha acquired a crusher, a concrete project, and a hollow-core project from Al Sateaa Modern Construction Co. for SAR 86 million.

On May 19, Saudi Darb received CMA’s approval to refer the complaint to CRDS, where the claim for SAR 100 million in joint and individual compensation was officially submitted.

The company recently announced that the case was accepted and registered with the CRSD.