Home › News ›

Dish Calls Sprint's Lawsuit 'Transparent'

Jun 18, 2013, 11:09 AM by Eric M. Zeman
updated Jun 19, 2013, 2:53 PM

Dish Networks today offered a response to the lawsuit filed against it by Sprint. According to Dish, the lawsuit is a weak attempt on Sprint's part cover up the fact that its offer for Clearwire is inferior. "Sprint's lawsuit is a transparent attempt to ... exploit its majority position to block Clearwire's shareholders from receiving a fair price for their shares. Dish is confident that its superior offer, which has been unanimously recommended by the Clearwire Board, including the majority appointed by Sprint, will be upheld and Clearwire shareholders will be free to realize the 29% premium represented by the Dish offer." Sprint initially bid $2.90 per share for the portion of Clearwire that it does not already own, but later raised its bid to $2.97 per share and finally $3.40 per share. Dish then followed with its own offer of $4.40 per share. Clearwire's board of directors recently agreed that Dish's proposal is superior, but Sprint claims the offer is illegal and not actionable. Sprint and Dish have been trading barbs since the fight for Clearwire began.

Related

iPhone 15 Series Goes All-In on USB-C and Dynamic Island

Sep 12, 2023
Apple has revealed the iPhone 15 series, which moves to a USB-C connector and brings several key features from last year's Pro models to the more-affordable standard models. These include the pill-shaped sensor cutout in the display that Apple calls Dynamic Island, a brighter display that can reach 2000 nits, a 48 megapixel main camera, and the A16 Bionic processor chip.

ZTE Launches Axon 30 with Hidden Front Camera

Jul 27, 2021
ZTE today announced the Axon 30, a more affordable sibling to the already-announced Axon 30 Ultra flagship phone. The Axon 30 is launching today in China, with a global version coming soon.

Samsung Updates Foldables with Water Resistance, S Pen

Aug 11, 2021
Samsung's third-generation foldable phones are slimmer, lighter, more durable, and more affordable. The Galaxy Z Fold3 and Galaxy Z Flip3 both feature IPx8 water resistance as well as bodies crafted from a new "Armor Aluminum" material and Gorilla Glass Victus.

New Pixel Feature Drop Adds Two-Way Voice Calls via Text

Mar 7, 2022
Google has started rolling out a new update for most of its Pixel phones that adds new features. One standout new feature is an enhanced Live Caption function for voice calls.

Redmagic 7 Pro Sports Dedicated Gaming Chip and Under-Display Camera

Apr 12, 2022
Nubia has announced its new Redmagic 7 Pro flagship gaming phone for international markets. It builds on the already high-end specs of the Redmagic 7 with improvements to the display, battery, and gaming performance.

more news about:

Comments

This forum is closed.

This forum is closed.

Versed

Jun 18, 2013, 11:19 AM

If Sprint was Smart, which they aren't.

If they were smart, Sprint would drive get top dollar for its holdings (majority) in Clear, like more then what Dish is asking, sell it all and bank it, then when Dish goes belly up, buy it all back at 10c on the dollar, along with their crappy sat tv business.

crossedsignals

Or simply slice and dice up Clearwire with Dish: Offer Dish Clearwire's spectrum licenses in the boonies and keep the metro licenses for themselves. That would achieve Sprint's goal of using Clearwire's high frequency spectrum in densely populated a...
(continues)

crossedsignals

Jun 18, 2013, 7:56 PM

Pretty simple to me

Sprint asserted its interpretation of the shareholder agreement and Delaware incorporation law. Clearwire's board didn't see it the same way (by virtue of acceptance of Dish's revised offer) and now Sprint is suing to get a referee to figure out who's right.

Page 1 of 1