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Shareholder Suit Doesn't Pass PSLRA Muster: Sprint

Law360, New York (October 06, 2009) -- Sprint Nextel Corp. has asked a judge to dismiss a suit accusing it and several former executives of lying about the company's financial health after a 2005 merger, contending that the claims don't meet the heightened pleading standards imposed by the Private Securities Litigation Reform Act.

The company filed the motion to dismiss a 101-page consolidated amended complaint Monday in the U.S. District Court for the District of Kansas, saying it is just the type of...

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