Thimar appeals court ruling in case against ex-board members

05/09/2025 Argaam
Logo ofThimar Development Holding Co.

Logo of Thimar Development Holding Co.

Thimar Development Holding Co. said it filed an appeal, on Sept. 4, against a decision by the Committee for the Resolution of Securities Disputes (CRSD), according to a Tadawul statement.

 

The ruling dismissed its lawsuit against former board members, citing the current board lacked a mandate from the general assembly.

 

 

Any material update related to the case will be disclosed in due course.

 

CRSD decided, on July 27, to dismiss the lawsuit against former board members who served between March 6, 2017, and July 4, 2021, due to a lack of authorization from the general assembly, according to data available with Argaam.

 

Thimar filed a complaint with the Capital Market Authority (CMA) on March 14, 2023, demanding SAR 230 million in damages and related legal costs. This came after shareholders authorized the board in October 2022 to pursue the case.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

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

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
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.