Al-Baha gets CMA nod to file complaint against former board members

19/05/2025 Argaam
Logo ofAl-Baha Investment and Development Co.

Logo of Al-Baha Investment and Development Co.

Al-Baha Investment and Development Co. received today, May 19, approval from the Capital Market Authority (CMA) to file a complaint with the Committees for the Resolution of Securities Disputes (CRSD).

 

The complaint involves legal action against the company's former board of directors, who served during the term from Feb. 10, 2010, to Feb. 9, 2013, seeking joint and individual compensation totaling SAR 100 million.

 

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In a statement to Tadawul, the company said the legal consequences and risks of this matter cannot be determined, noting that any developments regarding the case will be announced in due course.

 

Al-Baha also emphasized that it will closely monitor updates related to this issue and communicate any significant development accordingly.

 

According to Argaam data, Al-Baha submitted the complaint to the CMA on May 8. The case concerns a contract signed by the former board to acquire 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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