iPCS, Inc. Shareholder Alert: Lawsuit

An broker in IPCS shares has filed a accusation on account of accepted investors iPCS, Inc. (Public, NASDAQ:IPCS), who purchased the shares afore October 19, 2009, over declared breaches of fiduciary assignment in affiliation with an declared arbitrary takeover amount were announced.

Those who currently are investors in shares of iPCS, Inc. (Public, NASDAQ:IPCS), and purchased the shares afore October 19, 2009, and / or accept added advice apropos to the investigation, should acquaintance the Shareholders Foundation, Inc. at email: mail(at)shareholdersfoundation.com or at: +1 (858) 779 - 1554. According to the complaint the plaintiff alleges breaches of fiduciary assignment arising out of their attack to advertise iPCS, Inc. (NasdaqGS: IPCS) to Sprint Nextel. The accusation apropos whether the application to be paid to iPCS shareholders is grossly unfair, inadequate, and essentially below the fair or inherent amount of iPCS. The accusation added apropos whether Sprint, with its ascendancy over iPCS, as able-bodied as assertive associates of iPCS may accept breached their fiduciary duties by not acting in iPCS shareholders' best interests in affiliation with the auction action of iPCS. The accusation seeks to adjure the proposed accretion from basic as a aftereffect of declared breaches of fiduciary duties and arbitrary consideration.

On October 19, 2009, iPCS, Inc. (NASDAQ: IPCS) and Sprint Nextel Corp. (NYSE: S) appear an acceding for Sprint Nextel to access iPCS for about $831 million, including the acceptance of $405 actor of net debt. Under the agreement of the agreement, Sprint Nextel will arise a banknote breakable action to access all of iPCS’ outstanding accepted shares for $24.00 per share. According to iPCS the action represents a 34 percent exceptional to iPCS’ closing banal amount as of October 16, 2009.

A above actor of iPCS Greywolf Capital Management LP came out on October 23, 2009 in action to the $400 actor alliance of iPCS Inc. by Sprint Nextel Corp and according to a antecedent analysis by a law close “the transaction appears to be unfair” to accepted investors of iPCS, Inc. (Public, NASDAQ:IPCS) because the “offer to acquirement iPCS Inc. (IPCS) at $24 per allotment appears opportunistically timed to crop advantage of the accepted bread-and-butter downturn”.

The analysis “concerns whether the iPCS Inc. Board of Directors breached their fiduciary duties to iPCS shareholders by accordant to advertise the Company at an arbitrary amount thereby harming iPCS shareholders”, “whether the admiral of IPCS may accept breached their fiduciary duties by not acting in IPCS shareholders' best interests in affiliation with the auction action of IPCS”, and “the Company may not accept abundantly shopped itself about afore entering into this transaction and, pursuant to this proposed transaction, Sprint Nextel may be underpaying for iPCS Inc., appropriately unlawfully harming IPCS shareholders”.