PLDT INC. (NYSE: PHI) SHAREHOLDER CLASS ACTION ALERT: Bernstein Liebhard LLP Announces that a Securities
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NEW YORK, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of PLDT INC. ("PLDT" or the "Company") PHI between January 1, 2019 and December 19, 2022, inclusive (the "Class Period"). The lawsuit was filed in the United States District Court for the Central District of California and alleges violations of the Securities Exchange Act of 1934.
PLDT, through its principal business groups, offers a wide range of telecommunications and digital services across the Philippines' most extensive fiber optic backbone, as well as fixed line and cellular networks.
Plaintiff alleges that throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose, among other things, that: (1) there were capital spending budget overruns; and (2) weaknesses allowed such budget overruns.
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