Sprint sues Dish and Clearwire, claims buyout offer is illegal

Sprint sues Dish and Clearwire, claims buyout offer is illegal

Sprint warned Clearwire in early June that it viewed Dish’s latest attempt to buy it as illegal, and now the carrier is following up with legal action. Big Yellow has just announced that its filed a lawsuit against Dish and its acquisition target in Delaware, as it believes the buyout would violate state law and the rights of shareholders and investors in both itself and Clearwire. The Now Network is asking the court to prevent the completion of the deal, rescind certain parts of the agreement and seek “declaratory, injunctive, compensatory and other relief.” In the outfit’s own words, the suit “details how 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.” Stand back folks, the legal fireworks are just starting.

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Source: Sprint

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