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MANILA, Philippines – ABS-CBN Corp. and several of its top executives have been ordered to answer a complaint filed by Federico “Piki” Lopez, who accused them of committing corporate and securities law violations while the broadcaster was suffering heavy losses.
In a disclosure on Monday, the media giant said the Securities and Exchange Commission (SEC) had served summons on the company, its subsidiary The Big Dipper Digital Content & Design Inc., chair Martin Lopez, president and CEO Carlo Katigbak and chief financial officer Ricardo Tan Jr.
READ: ABS-CBN unfazed by Piki’s complaint to SEC
The respondents were directed to reply within 30 days.
