Further to the Capital Market Authority’s announcement on its website on 18/01/1436H corresponding to 11/11/2014 regarding the issuance of a CMA Board resolution to file a lawsuit before The Committee for the Resolution of Securities Disputes (CRSD) against the board members of Mohammad Al Mojil Group Company during its IPO stage and against some of the company’s executives and certified public accountants during the period from 2008 until 2011 as they have violated the Capital Market Law and its Implementing Regulations. CMA wishes to clarify to the public that on 10/09/1437H corresponding to 15/06/2016 A decision was issued by the Committee for the Resolution of Securities Disputes (The Resolution) to convict a number of the defendants for violating paragraph (A) of Article (49) of the Capital Market Law and Article (7) of the Market Conduct Regulations for conducting practices that formed manipulation and fraud and created a misleading and incorrect impression regarding the value of Mohammad Al Mojil Group Company security, which convicted them in the violations committed in the IPO's stage.
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