​The General Secretariat of the Committees for Resolution of Securities Disputes (CRSD) announced the issuance of the Appeal Committee for the Resolution of Securities Disputes’ (ACRSD) decision dated 16/02/1441 H., corresponding to 15/10/2019, convicting a number of the senior executives of  Mohammad Al Mojil Group Company ("the Company") and the company's auditor, for violating Paragraph (a) of Article (49) of the Capital Market Law, and Article (7) of the Market Conduct Regulations, as they committed practices that created a false and misleading impression on the value of the security of the Company during the period after the Company’s IPO, which were misleading and manipulating in the Company’s financial statements for the years 2008, 2009, 2010 and 2011.

In this regard, the CMA would like to inform traders and investors in the Saudi Stock Exchange that any person affected by these acts is entitled to file a compensation claim (as individual or class action) as per the regulatory procedures  with the CRSD, provided that such claim is preceded by a complaint filed with the Authority on this regard.

It is worth mentioning that an announcement will be made in the coming days in regards to any class action suit submitted and placed with the CRSD, in order to enable the rest of the investors affected by the same acts to apply to join such suit through a link on the Authority's official website which will be announced in a timely manner, in order to facilitate the affected persons to claim their compensation, reduce the costs of litigation and minimize the efforts and time.

Details of the CRSD's announcement as published on its website may be viewed via the following link:

Link