“Securities Disputes” issues urgent decision on class action lawsuit against “Mobily” officials

Al-Marsad Journal: The General Secretariat of Securities Dispute Resolution Committees issued an additional announcement regarding the adjudication committee’s decision to approve the class action lawsuit brought by an investor against a number of former officials of Etihad Etisalat “Mobily”.

Statement by the Secretariat
The secretariat said: “In addition to the announcement of the General Secretariat of Securities Dispute Resolution Committees on 04/21/1442 AH corresponding to 12/06/2020 AD on the publication of the Dispute Resolution Committee on Securities securities n ° 6 / L / D1 / C / 2020 AD for the year 1442 AH on the date of 9/4/1442 AH corresponding to 11/24/2020 AD, the judge approving the acceptance of the request for recording of the class action brought by one of the investors against certain senior executives of Etihad Etisalat “Mobily”, against whom a final decision was rendered by the Appeal Board in Securities Disputes No. (1997) (/ LS / 2020 ) for the year 1442 AH and the date 01/14/1442 AH corresponding to 02/09/2020 AD, and announced on the site of the General Secretariat of the Securities Litigation Committees on Safar 24, 1442 AH, and against d ‘former members of the Board of Directors of Etihad Etisalat “Mobily”, Rendered a final decision against them of the Appeals Committee for Securities Litigation No. (1462 / LS 2018 for the year 1439 AH) of 09/10/1439 AH corresponding to 25/05/2018 AD, and announced on the CMA site on 06 / 12/2018 AD, The Securities Dispute Resolution Committee No. (7 / L / D / 1 / C / 2020 AD) for the year 1442 AH was published on The 13/05/1442 AH correspondent as of 12/28/2020 AD, the judge approves the aforementioned class action lawsuit filed by the presiding claimant, after the number of claims sharing the legal grounds, alleged facts and subject matter of claims have reached the legal limit for issue a decision approving the class action.

Facilitate the membership application procedures
The Authority has taken the initiative to facilitate the procedures for requesting participation in the aforementioned class action lawsuit, via an electronic link on the Authority’s website, which makes it easier for those concerned who meet the conditions to submit their requests. without having to go personally to the seat of the commission or to the secretariat of the committees.