Stull, Stull & Brody Announces Investigation on Behalf of Shareholders of iPCS Inc.
29 October 2009 - 11:17AM
Business Wire
Attorney Advertising. Notice is hereby given that Stull, Stull
& Brody has commenced an investigation on behalf of
shareholders of iPCS Inc. (“iPCS” or the “Company”) (Nasdaq: IPCS)
for possible breaches of fiduciary duty and other violations of
state law in connection with an agreement by iPCS’s Board of
Directors to sell all of the Company’s outstanding shares of common
stock at a price of $24.00 per share in cash to Sprint Nextel
Corporation (“Sprint”).
If you own common stock of iPCS and wish to obtain additional
information about this matter, please contact Stull, Stull &
Brody at the toll-free number listed below. Stull, Stull &
Brody has litigated many class actions for violations of securities
laws and breaches of fiduciary duties on behalf of defrauded
investors over the past 40 years and has obtained court approval of
substantial settlements on numerous occasions.
The investigation concerns the price to be paid by Sprint to
iPCS shareholders and the process by which iPCS’s Board of
Directors is addressing the transaction. The median price target
for iPCS common stock set by analysts is $25.00 per share, and the
iPCS board of directors agreed to a non-solicitation provision and
a $12.5 million termination fee which all but ensures that no
superior offers will be forthcoming.
If you wish to discuss this matter or have any questions
concerning this notice or your rights or interests with respect to
this matter, please contact Aaron Brody, Esq. at Stull, Stull &
Brody by calling 1-800-337-4983 or 1-212-687-7230, or by email to
ssbny@aol.com or by writing to Stull, Stull & Brody, 6 East
45th Street, New York, NY 10017.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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