DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the proposed MetroPCS Buyout for shareholders. MetroPCS Communications, Inc. (“MetroPCS”)(NYSE: PCS) announced that it entered into a definitive merger agreement with Deutsche Telekom to combine with T-Mobile USA. Under the terms of the transaction, MetroPCS will declare a 1 for 2 reverse stock split, make a cash payment of $1.5 billion to its shareholders (approximately $4.09 per share prior to the reverse stock split) and acquire all of T-Mobile’s capital stock by issuing to Deutsche Telekom 74% of MetroPCS’ common stock on a pro forma basis.
There is no cost or fee for you to join the action. Thus, if you are an affected investor, and you want to learn more about the lawsuit or join the action, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com.
Shareholder rights attorney Willie Briscoe stated that “our investigation relates to the fairness of the proposed price for MetroPCS shareholders and whether the Board of Directors is adequately shopping the company in order to obtain the best possible price for the shareholders.” The lawsuit will seek to obtain the highest possible price for each share of MetroPCS stock owned.
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a Dallas litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
Source: Powers Taylor, LLP