SIECO’s lawsuit against its former board chairman, board members, and executive management was adjourned to March 13, 2018, the company said in a statement to Saudi bourse, Tadawul.

 

Last November, the company filed a lawsuit against former board members, executives

for excesses referred to by the external auditor.

 

Based on a recommendation from its current external auditor, SIECO booked provisions for the excesses by former executives and former auditor which led to booking over 75 percent of total capital in years 2014 and 2015.

 

The company has also started procedures to take legal action against the former auditor and executives and maintains its shareholders’ rights to claim from the former board all financial rights resulting from those violations.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2026, Argaam Investment, All Rights Reserved
Call Request