iPCS Affiliates Take Sprint to Court Over Virgin Acquisition
A handful of Sprint's iPCS affiliates have filed a lawsuit against the company in an attempt to block its planned taker over of Virgin Mobile. The three affiliates involved — iPCS Wireless, Horizon Personal Communications, and Bright Personal Communications Services — allege that the acquisition violates the affiliates' Management Agreements with Sprint. These agreements prohibit Sprint from competing with the affiliates in their home service areas. The three affiliates want the acquisition blocked until it can be amended to comply with the competition agreements. iPCS took Sprint to court over its Nextel acquisition, and is still litigating against Sprint's relationship with Clearwire.
Sprint Spreads the LG Tribute 2 to Virgin and Sprint Prepaid
Sprint today announced the LG Tribute 2 is now available from Virgin Mobile and Sprint Prepaid. The Tribute 2 has LG's signature rear-placed buttons, 1.2 GHz quad-core processor, LTE, Bluetooth, and WiFi.
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.
RadioShack Declares Bankruptcy, to Sell Stores to Sprint
RadioShack today filed for Chapter 11 bankruptcy protection and signed an agreement to sell approximately 1,750 of its stores to Sprint. Under the terms of RadioShack's Chapter 11 filing, RadioShack will sell the stores to Sprint and General Wireless, a subsidiary of one of RadioShack's major investors.
SoftBank Sinks More Money Into Sprint
SoftBank has been snapping up shares of Sprint, increasing its stake recently by as much as $87 million. Despite SoftBank CEO Masayoshi Son's misgivings about the overall acquisition of Sprint, SoftBank said it "is enthusiastic about Sprint's prospects.
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.
ipiece of ***
Please buy these D-bags and line up all their execs in a row and slap them. Hard.
Who here actually thought IPCS was not going to jump all over this like a fat kid on a cup cake.