Gatchalian companies threaten to sue exchange for damages

In a statement issued through their lawyers yesterday, the companies said the exchange’s announcement at the weekend that it was tightening trading rules involving their shares had created “a hugely adverse impact on [its] business reputation.”

The PSE on Saturday subjected the shares of the Gatchalian firms — Acesite (Phils.) Hotel Corp., Forum Pacific, Inc., Mabuhay Vinyl Corp., Philippine Estates Corp., Waterfront Phils., Inc., and Wellex Industries, Inc. — to early delivery requirements to protect investors.

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