Clearwire Investor Sues Over Sprint Buyout
Aurelius Capital has thrown its hat in the ring with Crest Financial in opposing Sprint's proposed buyout of Clearwire. Aurelius alleges that Sprint and Clearwire's boards of directors violated their legal obligations to obtain the best possible deal for Clearwire's minor shareholders. The company accused Sprint of dictating "manifestly unfair" terms with its $2.97 per share offer. The lawsuit was filed in Delaware. It's unclear how or if Aurelius' lawsuit will affect the share holder vote scheduled for May 21.
Sprint's WiMax Shutdown May Halt Service for Charities
Sprint plans to deactivate its WiMax network on Nov. 6, but some charities say the change will eliminate internet service for some 300,000 Americans altogether.
Sprint to Face $300M Tax Fraud Charge In Court
Sprint lost its bid to have a $300 million lawsuit dismissed and will now face the State of New York in court. The office of New York Attorney General Eric Schneiderman alleges that Sprint failed to collect about $100 million in taxes from its New York-based customers over a period of seven years.
Sprint to Launch LG G4 On June 5
Sprint today announced launch details regarding the LG G4 smartphone, which will be available in stores and online beginning June 5. Sprint is offering a wide range of purchasing options for the phone.
Sprint Shuffles Execs, Names New CFO
Sprint today made changes to its top executives and named a new chief financial officer. Sprint appointed Tarek Robbiati to the CFO position, where he replaces Joseph Euteneuer, who will leave the company.
Sprint Settles Lawsuit Over Nextel Merger for $131 Million
Sprint today settled a class-action lawsuit regarding its 2005 acquisition of Nextel for $131 million. Investors claim Sprint executives defrauded shareholders by inflating stock and bond prices after Sprint closed its acquisition of Nextel.
take the money