Sprint Nextel Loses Bid To Toss Merger Suit

Law360, New York (January 7, 2011, 8:45 PM EST) -- A federal judge has denied Sprint Nextel Corp.’s request to throw out a shareholder lawsuit accusing executives of lying about the health of the company following its 2005 merger, pushing the case past a major litigation hurdle.

Judge Eric F. Melgren found that the plaintiffs’ claims met heightened pleading standards under the Private Securities Litigation Reform Act, according to an order filed Thursday in the U.S. District Court for the District of Kansas.

After reviewing briefings “the court finds that plaintiffs have indeed adequately pled a...
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