Thimar Development Holding Co.’s case against former board members to be reconsidered by CRSD
Thimar Development Holding Co. announced that an appeal decision was issued in favor of the company to return the case against former board members back to the Committee for the Resolution of Securities Disputes (CRSD) for reconsideration. 
CRSD previously issued a decision to not to hear the case against the defendants due to the lack of authorization of the current board of directors.
In a statement to Tadawul, the company said it was informed of the decision on Nov. 24, 2025 by the general secretariat of CRSD, noting that any updates in this regard will be disclosed in a timely manner.
According to data available with Argaam, Thimar filed a complaint with the Capital Market Authority (CMA) on March 14, 2023, against former board members who served between March 6, 2017, and July 4, 2021, demanding SAR 230 million in damages and related legal costs. This came after shareholders authorized the board in October 2022 to pursue the case.
CRSD decided, on July 27, to dismiss the lawsuit, due to a lack of authorization from the general assembly.
Thimar then filed an appeal, on Sept. 4, against a decision by CRSD.
Thimar Development Holding Co.’s case against former board members to be reconsidered by CRSD
Thimar Development Holding Co. announced that an appeal decision was issued in favor of the company to return the case against former board members back to the Committee for the Resolution of Securities Disputes (CRSD) for reconsideration.
CRSD previously issued a decision to not to hear the case against the defendants due to the lack of authorization of the current board of directors.
In a statement to Tadawul, the company said it was informed of the decision on Nov. 24, 2025 by the general secretariat of CRSD, noting that any updates in this regard will be disclosed in a timely manner.
According to data available with Argaam, Thimar filed a complaint with the Capital Market Authority (CMA) on March 14, 2023, against former board members who served between March 6, 2017, and July 4, 2021, demanding SAR 230 million in damages and related legal costs. This came after shareholders authorized the board in October 2022 to pursue the case.
CRSD decided, on July 27, to dismiss the lawsuit, due to a lack of authorization from the general assembly.
Thimar then filed an appeal, on Sept. 4, against a decision by CRSD.
