The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of PLDT Inc. (“PLDT” or “the Company”) (NYSE: PHI) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. PLDT announced on December 16, 2022, that it had overrun its budget for broadband and other projects by the equivalent of $866 million over the past four years. The Company claimed to be “undertaking a management reorganization process and has initiated improvements on its processes and systems to address weakness that allowed such budget overruns to occur.” Based on this information, the Philippines Securities and Exchange Commission launched an investigation into the Company. Shares of PLDT dropped by more than 24.4% in intraday trading on December 19, 2022.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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Contacts
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
info@schallfirm.com
www.schallfirm.com
