The General Secretariat of the Committees for Resolution of
Securities Disputes (GS-CRSD) announces the issuance of the Appeal Committee
for the Resolution of Securities Disputes’ (ACRSD) final decision No. (2463/L.S/2022)
of 1443 H., dated 08/08/1443 H., corresponding to 11/03/2022 G., on the public
penal case filed by the Public Prosecution (referred to it by the Capital
Market Authority (CMA)) against (Mnawer bin Lafi bin Zabn Almutairy).
The decision concluded with the conviction of the abovementioned individual for violating
Article (49) of the Capital Market Law,
as well as Article (8) of the Market Conduct Regulations, when circulating
the opinion, via the username (Bison alas’hum) in the forum website (hawamer.com), in order to influence the price of the shares of the following
companies;(Wafrah for Industry and Development Co., Saudi Vitrified Clay Pipes
Co., Umm Al-Qura Cement Co., Southern Province Cement Co., Tabuk Cement Co., Saudi
Marketing Co., Saudi Company for Hardware, Al-Baha Investment and Development
Co., National Company for Learning and Education, Alandalus Property Co., Salama
Cooperative Insurance Co., Al-Omran Industrial Trading Co. and Saudi Ceramic Co.)
during the period between 20/01/2020 G. to 15/09/2020 G. Bison alas’hum
The decision included the imposition
of a fine upon him amounting to (SR. 130,000) one hundred thirty thousand Saudi
Riyals.
Furthermore, any person affected by
these violations in this case is entitled to file a compensation claim, as individual or class action, with the CRSD for
the damage he/she suffered from due to these violations, provided that such
claim is preceded by a complaint filed with the CMA on this regard, via the
following link: (File
Complaint)
However, the GS-CRSD will announce to the public on its website in
case of registering any class action in order to enable the rest of investors
affected by such violations to apply to the CRSD to join the class action.
(To view the dates of trading and
securities in relation to the violations, click here )
