Court rejects Al-Baha’s lawsuit against former board

12/02/2018 Argaam

Jeddah’s administrative count has dismissed today Al-Baha Investment and Development Co.’s complaint against former chairman and board members, the company said in a statement to Tadawul.

 

The company had accused its former board chairman and members of a fraudulent purchase of overpriced assets from a local contracting firm, and solicited a compensation of SAR 100 mln; the difference between fair value and market price.

 

The company could challenge today's verdict within 30 days.

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