Speed Medical’s FRA lawsuits suspended as it mounts appeal

Speed ​​Medical (SPMD) appeals FRA lawsuits, to be reviewed on 11 June: Speed Medical said (pdf) yesterday that a Cairo court’s ruling — issued on April 12 — on two lawsuits brought against it by the Financial Regulatory Authority (FRA) will be suspended will it appeals the judgment. While SPMD did not disclose the court’s ruling, Al Mal claims the company was ordered to pay EGP 20 mn to the Financial Regulatory Authority. The regulator launched legal proceedings against the healthcare company last year for undisclosed reasons.