Sprint-Softbank Merger Challenge Stayed For Kan. Case

Law360, New York (May 31, 2013, 11:32 PM EDT) -- Sprint Nextel Corp. shareholders pursuing a federal court challenge to Softbank Corp.’s proposed $20.1 billion takeover of the wireless operator should wait for a Kansas state court decision on a bid for an injunction to block a shareholder vote on the deal, a Kansas federal judge ruled Friday.

U.S. District Judge Carlos Murguia ruled that federal court suits by Sprint shareholders including Paul Gerbino should be stayed while a state court considers a bid lodged by a proposed Sprint shareholder class in Johnson County District Court...
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