MORE US law firms said that they would investigate, on behalf of investors, possible violations by PLDT Inc. of federal securities laws after it disclosed a P48-billion budget overrun.
New York-based Kirby McInerney LLP announced on Dec. 23 that it was “investigating potential claims against PLDT.”
US law firm Kirby McInerney LLP focuses on cases involving securities, antitrust, whistleblower, and consumer litigation. Robbins Geller Rudman & Dowd LLP describes itself as “one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases.” “The price of PLDT shares declined by $6.35, or approximately 23.69%, from $26.81 per share to close at $20.46 on Dec. 19,” the law firm of Kirby McInerney LLP said.The law offices of Glancy Prongay & Murray LLP, Howard G. Smith, Frank R. Cruz, Johnson Fistel LLP, and The Schall Law Firm have all announced that they would look into PLDT.In a disclosure to the stock exchange on Dec.
The company also said that the deferment of the 5G rollout was in relation to the tepid market adoption of 5G handsets given that these are “still not affordable for most of the Philippine prepaid market.”
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PLDT out to nip US legal battle in the budPLDT Inc. aims to nip a potential class action suit in the bud by reaching out to US-based law firms that had expressed intent to probe if the telco giant violated federal securities law in relation to its P48-billion budget overrun. | TyronePiad /PDI
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PLDT on unsteady footing amid dampened investor confidence - BusinessWorld OnlineTHE stock market operator is reviewing whether PLDT Inc. adequately and timely disclosed material information after its shares slumped on Dec. 16 right before its disclosure of a big budget overrun.
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BIZ BUZZ: Untimely disclosureDid PLDT Inc. violate strict corporate disclosures rules by informing the public about a multibillion-peso budget bloat months after an internal investigation began? Some within the Philippine
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SMART asks subscribers for patience over glitch on Day 1 of SIM registrationSMART Communications, the wireless arm of PLDT, on Tuesday morning asked for patience from their customers as they are experiencing some technical glitches due to the high volume...
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Spending scandal at PHL phone giant had roots in ambition - BusinessMirrorTHE day after the Philippines’ largest phone company plunged by a record 19 percent following an audit disclosure that shocked investors, Chairman Manuel Pangilinan tweeted that his arowana, a freshwater fish, had just died. The poor fish had “probably absorbed all the angst of PLDT, on our behalf,” he quipped. He was referring to the
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Globe aggressively expanding Visayas coverageThe telecom unit of the Ayala Group said it built 129 new cell towers and upgraded 1,126 cell sites to 4G LTE in the first nine months of the year. This additional infrastructure is necessary to meet the increased demand for connectivity for work-- READ:
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