Saudi regulator suspends Mobily shares for second time this year | The National:
"Saudi Arabia’s market regulator yesterday suspended shares of the telecoms operator Etihad Etisalat for the second time this year.
The watchdog said it was waiting to hear from the company, also known as Mobily, about compensation for shareholders after earnings were misstated last year. More than US$5 billion has been wiped off the company’s market value since last year.
“This suspension is pending a clarification from Mobily about the preliminary decisions issued by the Committee for the Resolution of Securities Disputes on the lawsuits filed by some investors regarding compensation for the losses they suffered as a result of the financial statements released by the company,” said the Capital Market Authority in Riyadh."
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