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PLDT says class action lawsuit filed in US vs current, former employees

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ABS-CBN News

<p>MANILA - PLDT Inc said on Tuesdayt has learned that a class action suit was filed in the US against 9 of its current and former employees.</p><p>An Inquirer.net report earlier said the class action lawsuit is linked to the P48 billion budget overrun reported by the telco. </p><p>&quot;PLDT has learned that a securities class action lawsuit was commenced on February 6, 2023 by Sophia Olsson, a purported holder of PLDT securities, in the United States federal district court in the Central District of California,&quot; PLDT said in a disclosure to the stock exchange. </p><p>But PLDT said it has yet to be served a copy of the complaint as required under US law.</p><p>PLDT said it &quot;does not have any further information regarding the lawsuit at this time.&quot;</p><p>PLDT, the Philippine Stock Exchange as well as the Securities and Exchange Commission have said they would conduct their own probe in relation to the budget overrun.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/02/10/23/pldt-says-no-info-yet-to-verify-us-class-action-lawsuit-linked-to-budget-overrun">PLDT says no info yet to &#x27;verify, deny&#x27; US class action lawsuit linked to P48B budget overrun</a></li>	<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/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 on Tuesday it has learned that a class action suit was filed in the US against 9 of its current and former employees.