Tihama announces ACRSD decision on lawsuit against former board members

Logo of Tihama Advertising and Public Relations Co. 

Tihama Advertising and Public Relations Co. (Tihama) said it was notified by its legal counsel, on March 22, of the decision by the Appeal Committee for the Resolution of Securities Disputes (ACRSD) on dismissing the company’s lawsuit against some former board members.

In a statement to Tadawul, the company said that it will examine the ruling and its reasons in coordination with its legal counsel and determine the next necessary steps accordingly.

At present, the associated costs and the lawsuit completion date cannot be determined.

Any related material developments in the case will be announced in due course.

In March 2017, Tihama filed a legal claim against a number of its former board members before the Board of Grievances in Riyadh, according to data compiled by Argaam.

In May 2018, the Commercial Court in Riyadh dismissed the lawsuit, citing the lack of any link between the different requests mentioned in the claim.

Later in May 2022, Tihama filed a liability claim related to the company's rights against former board members before ACRSD.