Kendall Law Group Announces Shareholder Investigation into iPCS, Inc.
19 Ottobre 2009 - 10:28PM
Business Wire
Kendall Law Group, led by a former federal judge and former US
Attorney, announces a shareholder investigation into the Board of
Directors of iPCS, Inc. (NASDAQ: IPCS) for possible breaches of
fiduciary duty in connection with the proposed acquisition by
Sprint Nextel Corp.
Sprint announced that it planned to buy iPCS in a transaction
valued at $831 million, including the assumption of $405 million of
net debt. iPCS offers personal communications services, network
products and services under the Sprint brand name through PCS
retail stores, co-branded dealers, and third party distributers.
According to the agreement, shareholders will receive $24 per iPCS
share owned. iPCS stock closed at $17.88 per share on Friday,
October 16, 2009.
Kendall Law Group’s investigation concerns whether the
consideration to be paid to shareholders is grossly unfair,
inadequate, and substantially below the fair or inherent value of
the Company and whether the directors and special committee members
may have breached their fiduciary duties by not acting in the
shareholders’ best interests in connection with the sale
process.
Kendall Law Group has nationwide experience representing
investors in mergers and acquisitions. For information about your
rights as an iPCS shareholder, contact attorney Hamilton Lindley at
877-744-3728 or by email at hlindley@kendalllawgroup.com.
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