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PLDT says no info yet to 'verify, deny' US class action lawsuit linked to P48B budget overrun

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<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="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" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/business/02/10/20190509-pldt-results-briefing-gc-7427.jpg"/><figcaption>PLDT Chairman Manuel V. Pangilinan during the PLDT 2019 First Quarter Results press briefing held at their headquarters in Makati on May 9, 2019. <em>George Calvelo, ABS-CBN New/File</em></figcaption></figure></div><p>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.</p><p>In its report, the Inquirer website said PLDT and MVP were facing a class action lawsuit in relation to a P48-billion budget overrun.</p><p>&quot;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,&quot; PLDT said in a disclosure to the stock exchange.</p><p>&quot;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,&quot; it added.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/12/21/22/no-fraudulent-trade-in-pldt-shares-says-pse-president">No fraudulent trade in PLDT shares, says PSE President</a></li></ul><p>PLDT earlier disclosed that it discovered a P48-billion budget overrun from 2019 to 2022. It conducted an international investigation.</p><p>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.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/12/16/22/pldt-shakes-up-management-amid-p48-b-budget-overrun">PLDT shakes up management amid P48-B budget overrun</a></li>	<li><a href="https://news.abs-cbn.com/business/12/20/22/sec-to-probe-pldt-budget-overrun-issue">SEC to probe PLDT budget overrun issue; trading losses</a></li>	<li><a href="https://news.abs-cbn.com/video/business/12/19/22/pldt-shares-plunge-after-budget-overrun-report">PLDT shares plunge nearly 20 pct after budget overrun report</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2386824" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

PLDT Inc said it had no information yet on a report stated that a class action lawsuit in the US was filed against the company and its chairman.