(Bloomberg) -- Former Etihad Etisalat Co. executives created a false impression about the value of the company by providing misleading information in financial statements in 2013 and 2014, the Saudi Capital Market Authority said.
Revenue figures were inflated from the second quarter of 2013 through the third of 2014, it said. The Appeal Committee for Resolution of Securities Disputes convicted the former executives for violations. It didn’t identify the executives or their roles in the company.
Those affected have the right to file a compensation claim and join a class-action lawsuit, it said.
