The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of PLDT Inc. (NYSE: PHI) who purchased shares between January 1, 2019 and December 19, 2022. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the PLDT lawsuit alleges 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 the Company's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders have until April 7, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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