iPCS, Inc.Shareholder Alert: Investigation

An analysis on account of accepted investors iPCS, Inc. (Public, NASDAQ:IPCS), who purchased the shares afore October 19, 2009, over abeyant breaches of fiduciary assignment and added violations of accompaniment law 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. The analysis by a law close focus on abeyant breaches of fiduciary assignment and added violations of accompaniment law by the Board of Directors of iPCS, Inc. (Public, NASDAQ:IPCS) arising out of their attack to advertise iPCS, Inc. (NasdaqGS: IPCS) to Sprint Nextel.

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.

But according to an 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”.

iPCS, Inc., Schaumburg, IL is a captivation aggregation that operates as a PCS Affiliate of Sprint (Sprint) through three wholly endemic subsidiaries, iPCS Wireless, Inc., Horizon Personal Communications, Inc. and Bright Personal Communications Services, LLC, anniversary accepting its own amalgamation agreements with Sprint PCS. Pursuant to these amalgamation agreements with Sprint PCS, the Company offers wireless claimed communications casework (PCS) casework application Sprint’s spectrum beneath the Sprint casting name on a wireless arrangement complete and operated to Sprint's blueprint at iPCS’s own expense. IPCS appear in 2007 Total Revenue of $538.09million and in 2008 Total Revenue of $525.52million. Shares of iPCS, Inc traded at $23.84 per allotment afterwards the advertisement and at about $19 per allotment canicule afore the announcement. IPCS shares traded in 2008 at over $32 per allotment and in 2007 at over $52 per share.