PLDT Settles U.S. Class Action Lawsuit

PLDT (PHI) has released an update.

PLDT Inc. has favorably settled a U.S. class action lawsuit regarding alleged false statements about its capital expenditures and internal controls made between 2019 and 2022. The settlement was finalized by the U.S. District Court for Central District of California with no admission of liability and involves a payment of $3 million. This resolution aims to mitigate the litigation’s impact on PLDT’s American Depositary Shares investors.

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