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.
I understand the concept of investors trying to get as much value as they can, but I agree this is upsurd. With the TMO merger, I was somewhat on the side of the MetroPCS shareholders trying to get more, they had a smaller but profitable company. Cl... (continues)