The Saudi Capital Market Authority announced that the Committee for Resolution of Securities Disputes approved the registration of an investor-led class action against Hamil AlMusk for Business Services Holding Company. The lawsuit concerns the company’s public offering of shares without following regulatory procedures, in violation of Article 31 of the Capital Market Law. Anyone who subscribed for the company’s shares may request to join the class action within 90 days of the announcement. The committee will assess requests under the Resolution of Securities Disputes Proceedings Regulations.
2026-08-20Saudi Arabia Capital Markets Authority
Saudi Capital Market Authority announces registration of class action over noncompliant public share offering
The Saudi Capital Market Authority announced the registration of a class action against Hamil AlMusk for Business Services Holding Company over a public share offering that breached regulatory procedures. Subscribers may request to join the lawsuit within 90 days of the announcement.