ABS-CBN Corp. said it has received a summons from the Securities and Exchange Commission (SEC) over a complaint filed by businessman Federico R. Lopez, as reported by BusinessWorld.
In a regulatory filing on Monday, the listed media company said the complaint was filed against ABS-CBN and The Big... (details were not fully disclosed). The SEC summons adds a regulatory dimension to an ongoing dispute within the Lopez Group.
The conflict involves members of the Lopez family, with Federico R. Lopez, a cousin of ABS-CBN chairman Martin Lopez, seeking resolution through the corporate regulator. The case underscores internal tensions within the conglomerate that controls the country's largest broadcast network.