Bilyonaryo - Business

PLDT reiterates commitment to uphold transparency as it cautions public against inaccurate news reports

December 28, 2022

Bilyonaryo.com

Telco giant PLDT has warned the investing public against inaccurate news reports that are negatively impacting the company and its shareholders.

In a disclosure to the Philippine Stock Exchange, PLDT said that there have been various write-ups circulating in the past month that contain inaccurate information.

“These write-ups have been detrimental not only to PLDT, but ultimately and more importantly, to the shareholders of the company,” it said.

PLDT in particular denied reports indicating that the company would be reaching out to US-based law firms that had expressed interest in probing possible violations of US federal securities laws.

“While PLDT has seen reports that certain US law firms are investigating potential claims on behalf of investors of PLDT for alleged violations of securities laws—as is common when issuers disclose certain events—PLDT is not engaging with such law firms and has retained US counsel to defend against any suits that may be filed,” the company said.

PLDT reiterated its commitment to transparency, promising to continue releasing timely official statements and disclosures that are based on fact to apprise the investing public, especially its shareholders, of relevant information.

“We encourage everyone to focus on these official statements and disclosures from the company in order to obtain accurate information,” the telco said.

“We also caution against relying on words attributed to, or purportedly quoted from, PLDT officials that are not direct quotes from PLDT’s official statements or disclosures as they may contain contextual errors or inaccuracies,” it said.

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