NEW YORK, July 18, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of Leap Wireless International Inc. ("Leap Wireless" or the "Company") (Nasdaq:LEAP) of claims of breaches of fiduciary duty and other violations of state law against the board of directors of the Company in connection with the sale of the Company to AT&T, Inc. (NYSE:T). A complaint was filed in Delaware state court.
Click here to learn more about the investigation http://zlk.9nl.com/leap-wireless-international-leap/, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Leap Wireless shareholders will receive $15.00 per share of Leap Wireless stock they own; Leap Wireless shareholders will also receive a contingent right entitling them to the net proceeds derived from the sale of the Company's 700 Mhz "A Block" spectrum in Chicago. Shareholders representing approximately 29.8% of the Company's outstanding shares have already agreed to tender their shares. The claims concern whether the Leap Wireless Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the transaction, and whether AT&T, Inc. is underpaying for Leap Wireless, thus unlawfully harming Leap Wireless shareholders.
If you own common stock in Leap Wireless and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/leap-wireless-international-leap/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP