The media company said it and certain officers are reviewing the complaint with legal counsel and “will file the appropriate response within the prescribed period.”
“The company’s operations continue normally and it remains committed to its employees, content partners, advertisers, and the viewing public. ABS-CBN will not allow this matter to distract from its mission of serving Filipino audiences," ABS-CBN said on Tuesday.
ABS-CBN added that it “intends to address all allegations through the proper legal and regulatory channels," it added.
The company also maintained that “the company’s board of directors and its committees have consistently exercised proper oversight of executive compensation, capital expenditures, and financial reporting in accordance with applicable laws and governance standards.”
It further said that “The company has at all times complied with its disclosure obligations to the SEC and the Philippine Stock Exchange.”
“ABS-CBN cannot further comment on the matter as it is being actively considered by an administrative body,” the company said.
The statement came after the company and certain officers received summonses from the SEC’s Ad Hoc Committee on Matters Concerning the Lopez Group of Companies in connection with a complaint filed by one of its directors.
—Edited by Miguel R. Camus
