Tihama files lawsuit with CRSD against Abdulaziz Al-Suwailem

10:25 AM (Mecca time) Argaam
Logo of Tihama Advertising and Public Relations Co.

Logo of Tihama Advertising and Public Relations Co.

Tihama Advertising and Public Relations Co. filed a lawsuit with the Committee for Resolution of Securities Disputes (CRSD) against former board member Abdulaziz Najib Al-Suwailem.
 
In a Tadawul statement, the company said the lawsuit is to demand financial compensation for Al-Suwailem's transgressions.
 
 

If the company wins the lawsuit, there will be a positive financial impact on its financial results, the statement said, adding that the relevant legal implications and risks cannot be determined at this stage.

 

Tihama does not expect any liability from filing the lawsuit. It will announce any material developments later. In June, the company submitted a complaint to the Capital Market Authority (CMA) against Al-Suwailem, seeking financial compensation, according to Argaam data.

 

In May, Al-Suwailem resigned from his position as a board member and Managing Director due to personal reasons, with the company retaining its legal right to monitor all violations and retaliate in this regard.

 

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