Wireless carrier's lawsuit claims the deal violates shareholder rights and Delaware laws. June 17, 2013 4:59 PM PDT Sprint Nextel has filed a lawsuit against Dish Network and Clearwire seeking to prevent Dish's takeover of the wireless broadband provider. The No. 3 wireless carrier filed a lawsuit Monday against the two companies in Delaware Court of Chancery, alleging that Dish's tender offer violates the rights of Sprint and Clearwire's shareholders and the laws of the state of Delaware. The lawsuit seeks to prevent Clearwire from accepting Dish's tender offer, as well as other injunctive and compensatory relief. "Dish has repeatedly attempted to fool Clearwire's shareholders into believing its proposal was actionable in an effort to acquire Clearwire's spectrum and to obstruct Sprint's transaction with Clearwire," Sprint said in a statement announcing the lawsuit. CNET has contacted Dish for comment and will update this report when we learn more. Clearwire declined to comment. "As a matter of policy, Clearwire does not comment on pending litigation," a Cleawire spokesperson told CNET. More to come...
Wireless carrier's lawsuit claims the deal violates shareholder rights and Delaware laws.
Sprint Nextel has filed a lawsuit against Dish Network and Clearwire seeking to prevent Dish's takeover of the wireless broadband provider.
The No. 3 wireless carrier filed a lawsuit Monday against the two companies in Delaware Court of Chancery, alleging that Dish's tender offer violates the rights of Sprint and Clearwire's shareholders and the laws of the state of Delaware. The lawsuit seeks to prevent Clearwire from accepting Dish's tender offer, as well as other injunctive and compensatory relief.
"Dish has repeatedly attempted to fool Clearwire's shareholders into believing its proposal was actionable in an effort to acquire Clearwire's spectrum and to obstruct Sprint's transaction with Clearwire," Sprint said in a statement announcing the lawsuit.
CNET has contacted Dish for comment and will update this report when we learn more. Clearwire declined to comment.
"As a matter of policy, Clearwire does not comment on pending litigation," a Cleawire spokesperson told CNET.
More to come...
