Justice for Filipino Minority Shareholders against PSE, SEC and CALATA Corporation

Justice for Filipino Minority Shareholders against PSE, SEC and CALATA Corporation

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Charlie Liu started this petition to President of the Philippines and

This petition is for all Philippine investors that had or may have had faced financial injustice from the governing bodies (PSE & SEC) they trusted that chose to run away from their duties instead of diligently protecting the investing public's interest.

Investing is key to financial freedom and must be protected at any costs.

Each country has a governing body to ensure that the public is properly protected from the malicious practices of corporate entities primarily through the Philippine Stock Exchange (PSE) and ovesight by the Securities of Exchange Commission (SEC), failure to do so by these two entities is just utterly incomprehensible that will eventually beg the question... How did it come to here?

Unfortunately such an event did happen.... a listed company for 5 years (2012-2017), CALATA was delisted due to the CEO's (Joseph Calata) malfeasances. While being a ripe opportunity for the PSE & SEC to exercise their powerful mandate to protect the investing public, they simply chose to skimp on their duty by simply getting rid of the company and leaving the public on their own many of which has now have their entire life savings hanging in limbo.

To understand better the frustration of the investing public, CALATA was listed by the PSE and opened for public trading. This meant that PSE recommended, encouraged and opened the doors for the public to be fooled by CALATA by allowing them to be publicly traded. When the inevitable problems happened, PSE simply chosed to walked away by immediately delisting CALATA and not even exercising their power to force CALATA to provide a way out to the investing public through a tender offer. Adding salt to injury, SEC even affirms the decisions of PSE essentially ramming shut the inescapable hellhole that the investing public found themselves in leaving them to suffocate and suffer on their own.

Just one of the many unfortunate stories in the Philippine investing world, it is now time for the public to stand up and fight for our rights as the victim of such injustices now and in the future.

This is not just a fight for CALATA investors. This is a fight for all investors. Who knows how many CALATA-like companies are actually listed in the PSE with the glaring negligence of PSE & SEC.

We must not allow this to simply fade in the background for it will mean that it can easily happen in near future once again.

It is time to hold accountable the governing bodies that allowed for this kind of catastrophic situations and many others to fester in the name of profit at the expense of the investing public they have sworn to protect.

May you support this petition in demanding the governing bodies PSE & SEC to uphold their mandates and WORK FOR THE INVESTING PUBLIC, NOT THE CORPORATIONS OR THEIR OWN INTERESTS.

0 have signed. Let’s get to 500!
At 500 signatures, this petition is more likely to be featured in recommendations!