Final verdict issued against Mobily’s former execs to pay SAR 1.23 bln

07/09/2022 Argaam
Logo ofEtihad Etisalat Co. (Mobily)

Logo of Etihad Etisalat Co. (Mobily)

The General Secretariat of the Committee for Resolution of Securities Disputes (CRSD) announced that the Appeal Committee for Resolution of Securities Disputes (ACRSD) issued a decision on Aug. 8 in the class action submitted by an investor against a number of former executives at Etihad Etisalat Co. (Mobily).

 

The ACRSD supported the CRSD’s former decision on obliging the defendants to jointly pay SAR 1.23 billion, in addition to jointly paying lawyer fees of SAR 12,000.

 

The defendants are Badr Alturaifi, Muhammad Thabet, Khaled Alkaf, Thamer Alhosani, and Ahmad Abdulnabi.

 

In June, the CRSD issued a resolution in the class action filed against five former executives of Mobily, ordering the defendants to pay SAR 1.225 billion to the claimants, according to data available with Argaam.

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