Wolf Haldenstein Investigates iPCS, Inc. Proposed Acquisition
Business Wire
Oct 19, 2009
Attorney Advertising. The law firm of Wolf Haldenstein Adler Freeman &
Herz LLP is investigating possible breaches of fiduciary duty by the
Board of Directors of iPCS, Inc. (“iPCS” or the “Company”) [NASDAQ:IPCS]
arising out of the proposed acquisition of iPCS by Sprint Nextel Corp.
(“Sprint”).
On Monday, October 19, 2009, Sprint and iPCS announced that Sprint would
acquire iPCS in an all cash offer. Under the terms of the agreement,
iPCS stockholders will receive cash of $24 in exchange for each share of
iPCS common stock. However, the Company may not have adequately shopped
itself around before entering into this transaction and, pursuant to
this proposed transaction, Sprint may be underpaying for iPCS, thus
unlawfully harming iPCS shareholders.
Wolf Haldenstein has been representing individual and institutional
investors for many years, serving as lead counsel in numerous cases in
U.S. federal and state courts. Please visit the Wolf Haldenstein website
(http://www.whafh.com)
for more information about the firm.
If you own iPCS common stock and you wish to discuss this matter with
us, or have any questions concerning your rights and interests with
regard to this matter, please contact:
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Gustavo Bruckner or Derek Behnke
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Wolf Haldenstein Adler Freeman & Herz LLP
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270 Madison Avenue
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New York, New York 10016
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Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.
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