A securities class action has been filed against PLDT Inc. (PHI) on behalf of purchasers of the securities of PLDT Inc. (NYSE: PHI) between January 1, 2019 through December 19, 2022.  This case has been filed in the USDC – C.D.CA.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that: (1) there were capital spending budget overruns; (2) defendants failed to address weaknesses that allowed such budget overruns; and (3) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.