NEW YORK, Dec. 28, 2012 (GLOBE NEWSWIRE) -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Clearwire Corporation ("Clearwire" or the "Company") (ISIN: US18538Q1058) concerning the proposed acquisition of Clearwire Corporation by Sprint Nextel Corporation in a transaction valued at approximately $2.1 billion in cash.
The investigation concerns whether the Clearwire directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Clearwire shareholders will be entitled to receive $2.90 per share in cash for each share of Clearwire common stock. However, the price to revenue multiple for the Company is below comparable transactions, and analysts targeted the price at $3.00 per share or higher.
Clearwire shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at email@example.com or 212-661-1100 or 888-476-6529, ext. 237.
The Pomerantz Firm, with offices in New York, Chicago and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
CONTACT: Robert Willoughby Pomerantz Grossman Hufford Dahlstrom & Gross LLP 212-661-1100 ext. 237 firstname.lastname@example.orgSource:Pomerantz Grossman Hufford Dahlstrom & Gross LLP