PLDT Inc. has been hit with a securities class action lawsuit by a purported holder of PLDT securities, Sophia Olsson, in the United States federal district court in the Central District of California.

The lawsuit named PLDT and nine of its current or former employees as defendants. The securities class action lawsuit has been filed on behalf of a class of investors who purchased or otherwise acquired PLDT securities between January 1, 2022, and December 31, 2022. The lawsuit alleges that the defendants violated federal securities laws by making false and misleading statements about the Company's financial results and business prospects during the class period.

The Company has not been served with a copy of the complaint yet, as required under U.S. law. PLDT has stated that it does not have any further information regarding the lawsuit at this time.

The lawsuit comes after an article was published on Inquirer.net entitled "PLDT, MVP slapped with U.S. class action lawsuits," which caused confusion among investors. PLDT clarified on February 10, 2023, that the Inquirer.net article was referring to a lawsuit filed in the United States District Court for the Southern District of New York.

PLDT has assured its investors that it will continue to monitor the situation and provide updates as they become available.

PLDT is a leading telecommunications and digital services provider in the Philippines. The Company offers a wide range of products and services, including fixed line, wireless, and broadband services, as well as digital content and e-commerce services. The Company's shares are listed on the Philippine Stock Exchange and the New York Stock Exchange.