ABS-CBN on Thursday appealed to the public not to drag the company into an ongoing dispute involving members of the Lopez family, following reports of an alleged complaint filed before the Securities and Exchange Commission (SEC) by lawyers of board director Federico “Piki” Lopez.
In a statement, the media company said its board of directors has consistently recognized the efforts and sacrifices of ABS-CBN employees in helping keep the company operational amid the challenges it has faced in recent years.
The company also stressed that no objections had been raised against these commendations.
ABS-CBN said concerns regarding company matters should be addressed internally through discussions within the board, adding that publicly criticizing employees was unfair and unnecessary.
The company said the controversy has become a distraction for its workforce, which remains focused on restoring the company’s stability and continuing its public service mission.
“ABS-CBN should not be drawn into a dispute that does not involve the company,” it said.
The media network also noted that the majority of the Lopez family had already clarified that their family issues are separate from ABS-CBN.
Reports earlier said lawyers representing Lopez had allegedly filed a complaint with the SEC, although the company did not disclose further details regarding the reported case.
The firm’s shares on Friday fell by P0.07, or 2.37 percent, to close at P2.88 apiece.
