No Quick Trial For Sprint-Clearwire Merger Challenge

Law360, New York (January 11, 2013, 5:18 PM EST) -- A Clearwire Corp. investor lost a bid to put the brakes on majority shareholder Sprint Nextel Corp.'s $2.2 billion buyout bid Thursday, when a Delaware judge rejected its motion for an expedited trial, noting the central issue was price, not process.

Crest Financial Ltd. had hoped to start a trial in mid-April, four to five months after it filed an initial complaint in Delaware Chancery Court. Chancellor Leo Strine Jr. denied the motion, saying Sprint has deep enough pockets to satisfy any future judgment stemming from...
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