Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!
PLDT says no info yet to 'verify, deny' US class action lawsuit linked to P48B budget overrun
PLDT says no info yet to 'verify, deny' US class action lawsuit linked to P48B budget overrun
ABS-CBN News
Published Feb 10, 2023 05:51 PM PHT
|
Updated Feb 14, 2023 09:26 AM PHT
PLDT Chairman Manuel V. Pangilinan during the PLDT 2019 First Quarter Results press briefing held at their headquarters in Makati on May 9, 2019. George Calvelo, ABS-CBN New/File
MANILA — PLDT Inc said on Friday it had no information yet linked to a media report which stated that a class action lawsuit in the US was filed against the company and its Chairman Manny Pangilinan.
In its report, the Inquirer website said PLDT and MVP were facing a class action lawsuit in relation to a P48-billion budget overrun.
"Please be informed that the Company has not been served with the documents mentioned in the Inquirer.net news article in relation to the alleged class action suits," PLDT said in a disclosure to the stock exchange.
"The Company does not have any information to verify or deny the statements in the news article and it is Company policy not to comment on impending or pending litigation," it added.
PLDT earlier disclosed that it discovered a P48-billion budget overrun from 2019 to 2022. It conducted an international investigation.
The Securities and Exchange Commission as well as the Philippine Stock Exchange also conducted their own probe. PLDT stocks took a beating following the disclosure.
ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.
Our website is made possible by displaying online
advertisements to our visitors. Please consider supporting
us by disabling your ad blocker on our website.
Our website is made possible by displaying online
advertisements to our visitors. Please consider supporting
us by disabling your ad blocker on our website.
