Accepting a request to register two class actions from an investor against Al-Khodary executives.

The Capital Market Authority announced the issuance of two decisions from the Securities Disputes Resolution Committee approving the acceptance of two requests to restrict two collective lawsuits submitted by an investor against the CEO and some employees of Abdullah bin Abdul Mohsen Al-Khudari Sons Company.
According to the decisions of the Securities Disputes Settlement Committee, two requests to restrict class actions were submitted against the CEO and some employees of Abdullah Bin Abdul Mohsin Al-Khudari Sons Company, against whom two final decisions were issued by the Securities Disputes Appeals Committee: Resolution No. (3478/L.S./2024 AD for the year 1446 AH) and announced on the website of the General Secretariat of Committees for Resolution of Securities Disputes on 05/05/1446 AH corresponding to 11/07/2024 AD, and Resolution No. (3155/LS/2023 AD for the year 1445 AH), which was announced on the website of the General Secretariat for Committees for Resolution of Securities Disputes on 12/07/1445 AH corresponding to 06/13/2024 AD.
The plaintiff requested that the defendants be obliged to compensate him for the losses incurred as a result of the purchases he made in the company’s shares as a result of the violations committed.
The General Secretariat of the Committees for Resolution of Securities Disputes stated that any person who bought the company’s stock from the date of 02/16/2011 AD and kept it until the end of trading on 02/12/2019 AD, and any person who bought the company’s stock from the date of 02/13/2019 AD and To retain it until the trading of the company’s shares is suspended in the Saudi Stock Exchange (Tadawul) on 04/01/2019, submitting a request to join the committee. The two collective lawsuits referred to, within a period of (90) days from the date of the Secretariat’s announcement published on 06/25/1446 AH, corresponding to 12/26/2024 AD, based on Article (57) of the Regulations for Procedures for Resolving Securities Disputes.
The Securities Disputes Settlement Committee will study the applications in accordance with the regulatory procedures, provided that the application is submitted through the electronic portal of the Capital Market Authority.