‎Ruling in prefer of Al-Mojil shareholders ‘milestone’ in compensation mechanism pattern: ElKuwaiz

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Mohammed ElKuwaiz, Chairman of the Capital Market Authority (CMA)


The issuance of a ruling in prefer of 1 other class of Mohammad Al-Moajil Community’s shareholders hit by violations represents a milestone in the development of compensation mechanisms and boosts investor self belief in the stock market, tweeted Mohammed ElKuwaiz, Chairman of the Capital Market Authority (CMA).


 

He added that after the first ruling issued in prefer of Al-Mojil shareholders who were affected true by the submit-initial public offering (IPO) length, one other ruling was issued in prefer of 1 other class of shareholders.


 

Mohammed ElKuwaiz, Chairman of Saudi Arabia’s Capital Market Authority (CMA), said a court ruling was issued to compensate one other class of shareholders littered with Mohammad Al-Mojil Community’s violations.


 

Right here is believed a pair of novel stage in the development of shareholder compensation mechanisms, which boosts investor self belief in the market, he noted.


 

The CMA introduced on June 12, the completion of procedures connected to paying SAR 40 million in compensation for shareholders littered with Al-Mojil violations.


 

The In sort Secretariat of Committees for Decision of Securities Disputes acknowledged that the Charm Committee for the Decision of Securities Disputes (ACRSD) issued its last resolution, on Would possibly 6, 2021, in the class motion filed by an investor against the officers accused of violations against Al-Mojil in the submit-public subscription fragment.”


 

ACRSD affirmed the resolution issued by the Committee for Decision of Securities Disputes (CRSD), which obligates defendants to pay SAR 40.21 million in compensation for affected investors who joined the class motion.