The General Secretariat of the Committees for Resolution of Securities Disputes (GS-CRSD) announces the issuance of the Committee for the Resolution of Securities Disputes' (CRSD) decision No. (12/L/D1/C/2023) of 1445 H., dated 27/01/1445 H., corresponding to 14/08/2023, approving the acceptance of the request to register the class action lawsuit filed by an investor against some members of the board of directors and employees of Mohammad Al-Mojil Group Company, to claim compensation for the damages he suffered from as a result of the announcements issued by the Company on 22/02/2012 and 21/04/2012, that included the publication of the Company's annual financial statements for the year 2011 and the first quarter of 2012. Such publications was later proven, based on the Company's announcement on 22/09/2012 regarding its financial results for the second quarter of 2012, that such financial statements were incorrect, and that this alleged error led him to trade in the Company's shares during the period from 22/02/2012 until 21/07/2012 based on what was stated in the Company's financial statements during the aforementioned period, which created an incorrect and misleading impression about the Company's financial position during that period.
Furthermore, any person who purchased the Company's share after the Company announced on 22/02/2012 the results of its financial statements for the financial period ending on 31/12/2011, and the Company's financial statements for the first quarter of the year 2012 that was announced on 21/04/2012, and kept such share until the Company's share was suspended from trading in the Saudi Exchange (Tadawul) on 22/07/2012, has the right to submit to the CRSD a request to join the aforementioned class action lawsuit within a period of (90) days from the date of this announcement, based on Article (57) of the Resolution of Securities Disputes Proceedings Regulations.
The CRSD will examine his/her request in accordance with the regulatory procedures, provided that the request must be submitted through the Capital Market Authority using the following link:
Join a Class Action Lawsuit
