Shareholders Sue Sprint Nextel Over Merger Losses

Law360, New York (March 10, 2009, 12:00 AM EDT) -- Sprint Nextel Corp. stockholders have accused Sprint and several former executives of issuing false and misleading public statements about the company's financial well-being, artificially inflating stock prices in the wake of Sprint and Nextel's 2005 merger.

A group of Sprint Nextel shareholders filed suit in the U.S. District Court for the District of Kansas on March 10 seeking compensatory damages for losses on outstanding shares of common stock that were purchased between Oct. 26, 2006, and Feb. 27, 2008, which they allege occurred as a result...
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