Sprint Faces SEC Probe Into Sales Tax Collection

Law360, New York (August 2, 2012, 7:01 PM EDT) -- Sprint Nextel Corp. revealed Thursday that it was the subject of a formal U.S. Securities and Exchange Commission investigation into its collection of sales taxes following the launch of New York state's $300 million False Claims Act suit against the company.

In an SEC filing, Sprint said that the SEC had issued a former order of investigation July 23 but that it did not expect the resolution of the probe to have a significant effect on the company's bottom line.

“Sprint is cooperating with the SEC...
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