MANNY PACQUIAO SETTLES DEFAMATION LAWSUIT AGAINST RICHARD SCHAEFER AND OSCAR DE LA HOYA

LOS ANGELES (May 31, 2011) — Manny Pacquiao has settled his defamation lawsuit against Richard Schaefer and Oscar de la Hoya on confidential terms. In connection with the dismissal, Mr. Schaefer and Mr. De la Hoya made the following statement:

“Richard Schaefer and Oscar de la Hoya, on behalf of themselves and Golden Boy Promotions, wish to make it crystal clear that we never intended to claim that Manny Pacquiao has used or is using any performance enhancing drugs, and further state that we do not have any evidence whatsoever of such use.

“Manny Pacquiao is one of the greatest fighters of all time, and we apologize if anyone construed our prior remarks as in any way claiming or even suggesting that Manny uses or has used performance enhancing drugs.”

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