Further to the General Secretariat of the Committees for Resolution of Securities Disputes (GS-CRSD) announcement on 11/05/1447 H., corresponding to 02/11/2025 regarding the issuance of the Committee for Resolution of Securities Disputes' (CRSD) two decisions; No. (21/L/D1/C/2025) of 1447 H., dated 08/04/1447 H., corresponding to 30/09/2025, and No. (22/L/D2/C/2025) of 1447 H., dated 08/04/1447 H., corresponding to 30/09/2025; approving the acceptance of the request to register the following two class action lawsuits:
- The class action filed by an investor against the Sanam Business Holding Company, after the Company conducted a marketing campaign offering shares in the Sanam Alnomu Business Services Holding Company, a subsidiary Company to it, without following regulatory procedures stated in the Rules on the Offer of Securities and Continuing Obligations, and his subscription to the Company's shares based on that. The claimant requested the registration of the class action with the CRSD, the annulment of the subscription agreement concluded with the Company, and obliging it to return the capital he paid as a result of his subscription.
- The class action filed by an investor against the Sport Address Business Services Holding Company, as a result of the Company offering its shares and conducting a marketing campaign to invest with it without following regulatory procedures stated in the Rules on the Offer of Securities and Continuing Obligations, and his subscription to the Company's shares based on that. The claimant requested the registration of the class action with the CRSD, the annulment of the subscription agreement concluded with the Company, and obliging it to return the capital he paid as a result of his subscription.
The GS-CRSD announces the issuance of the CRSD's two decisions; No. (24/L/D2/C/2026) of 1447 H., dated 14/09/1447 H., corresponding to 03/03/2026, and No. (25/L/D2/C/2026) of 1447 H., dated 14/09/1447 H., corresponding to 03/03/2026, approving the two class actions referred to above filed by the two main claimants, after the number of applications, that share the statutory bases, claimed facts and subject matter of the requests, reached the statutory limit for issuing the two decisions to approve the class actions.
The GS-CRSD indicated the completion of requests to join the said two class actions. Furthermore, GS-CRSD would like to indicate that any person who had not submitted his/her request to join these two class actions has the right to submit an individual complaint through the CMA website via this Link.