Al-Baha general assembly decided to sue former board

The ordinary general assembly of Al-Baha for Development and Investment agreed yesterday to file liability lawsuit against its former board members, and asked incumbent board to take regulatory and legal measures to restore investors’ rights.

The general assembly approved the company’s financial results issued at end of 2012 and auditor’s report, and declined to approve the board of directors’ report.

It postponed the date of an extraordinary general assembly in which to decide whether to sustain or liquidate the business, and to sell depreciated assets, till quorum is met.