Aramex shares are down 2%, as one of its clients filed a lawsuit against it


Dubai – Mubasher: Aramex’s share declined during the trading session on Sunday, after filing a lawsuit in Moroccan courts against the company and demanding compensation of about $ 40 million.

By 11.35 am UAE time, the stock listed on the Dubai Financial Market fell by 2 percent, reaching the level of 4.35 dirhams.

Market investors executed about 53 transactions on the volume of 1.74 million shares traded, valued at 7.61 million dirhams, in the meantime.

Aramex said, last Thursday, that one of its customers had filed a lawsuit with Moroccan courts demanding compensation of about $ 40 million for losses and material and moral damage to him as a result of a fire in its warehouse facility in Morocco.

In a statement to the Stock Exchange, the company indicated that it has appointed external legal advisors to represent it in this lawsuit and defend it before the court hearing this case, noting that no final decision has been issued by the court in this case to date.


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