PLDT 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
“But we are now in conversation with these lawyers in respect to this potential threat to the company,” he added.
The Schall Law Firm said the probe would focus on “whether the company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.” PLDT had to store some of the 5G assets in the warehouses as it slowed down on deployment given the low market penetration.
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