INQUIRER.net: Court of Appeals affirms ruling favoring PLDT’s preferred-to-common shares deal

INQUIRER.net Philippine News for Filipinos

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Court of Appeals affirms ruling favoring PLDT's preferred-to-common shares deal Sep 8th 2013, 22:32 MANILA, Philippines—The Court of Appeals has upheld a Makati City regional trial court's decision declaring as a nuisance or harassment suit the petition filed by former Securities and Exchange Commission (SEC) chair Perfecto Yasay Jr., questioning the move of the Philippine Long Distance Telephone Co., (PLDT) to redeem the preferred shares of its stockholders and then converting them to common shares. In a 20-page ruling promulgated this month, the CA 17th division dismissed the petition for review sought by Yasay and Edgardo de Leon on the Sept. 12, 2012, resolution of branch 149 of the Makati RTC. Yasay and De Leon are among stockholders who subscribed to preferred shares unde... Keep on reading: Court of Appeals affirms ruling favoring PLDT's preferred-to-common shares deal Media files: PLDT-logo.jpg (image/jpeg)

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