21 Days
Source:
الاقتصادية
Court approves class action against Redan Food directors
The Saudi Capital Market Authority has approved the acceptance of a class-action lawsuit against the members of the Board of Directors and the Audit Committee of Rayan Food Company, due to their violations related to issuing misleading information about the company's value and their disregard for International Accounting Standards, especially concerning asset valuation and impairment losses. The lawsuit includes anyone who purchased shares of the company between March 29, 2019, and March 30, 2022, aiming to protect investors and promote transparency in the financial market.
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