PHI - Levi & Korsinsky LLP Announces Proposed Class Action Settlement on Behalf of Purchasers of PLDT Inc. American Depository Shares | Benzinga
SANTA ANA, Calif., April 10, 2024 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP announces that the United States District Court for the Central District of California has approved the following announcement of a proposed class action settlement that would benefit purchasers of PLDT Inc. American Depository Shares (NYSE:PHI):
SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION, SETTLEMENT HEARING, AND MOTION FOR ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES
TO: All Persons that during the period from January 1, 2019 through December 21, 2022, inclusive (the "Class Period"), purchased or otherwise acquired the American Depository Shares ("ADS") of PLDT Inc. ("PLDT" or the "Company").
PLEASE READ THIS NOTICE CAREFULLY. YOUR RIGHTS MAY BE AFFECTED BY THE PROPOSED SETTLEMENT OF A CLASS ACTION LAWSUIT PENDING IN THE UNITED STATES DISTRICT COURT FOR THE CENTRAL DISTRICT OF CALIFORNIA (THE "COURT").
PLEASE DO NOT CONTACT THE COURT, PLDT INC., OR ANY OTHER DEFENDANT, OR THEIR COUNSEL, REGARDING THIS NOTICE.
ALL QUESTIONS ABOUT THIS NOTICE, THE PROPOSED SETTLEMENT, OR YOUR ELIGIBILITY TO PARTICIPATE IN THE PROPOSED SETTLEMENT SHOULD BE DIRECTED TO LEAD COUNSEL OR THE CLAIMS ADMINISTRATOR, WHOSE CONTACT INFORMATION IS PROVIDED BELOW.
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the Court, that the Class in the above-captioned litigation (the "Action") has been preliminarily certified for the purposes of the proposed Settlement only.
YOU ARE ALSO NOTIFIED that Dr. Kevin Douglas ("Lead Plaintiff"), individually and on behalf of the proposed Class, and the Defendants have reached a proposed settlement of the Action for $3 million in cash (the "Settlement Amount"), that, if approved, will resolve all claims in the Action (the "Settlement").
A hearing (the "Settlement Hearing") will be held before the Honorable Cormac J. Carney, United States District Court Judge for the Central District of California, either via telephonic or video conference, or in Courtroom 9B, Ronald Reagan Federal Building and United States Courthouse, 411 West Fourth Street, Santa Ana, California, 92701-4516 at 1:30 p.m. on August 5, 2024, to, among ...