IPCS Settles With Shareholders Over Sprint Deal

Law360, New York (November 18, 2009, 4:39 PM EST) -- Wireless communications company iPCS Inc. said Wednesday it had reached a settlement with shareholders to resolve two class actions that challenged its proposed $831 million sale to Sprint Nextel Corp.

The Schaumburg, Ill.-based company — an independent affiliate of Sprint — said it had executed a memorandum of understanding with the shareholder plaintiffs to settle all claims asserted in the lawsuits, which are being heard in the Circuit Court of Cook County, Ill.

Under the terms of the deal, which is subject to a stipulation of...
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