If You Purchased Or Acquired Certain Common Stock Or Debt Of Sprint Nextel Corporation From October 26, 2006 Through February 27, 2008, A Class Has Been Certified And You May Be A Member Of The Class

KANSAS CITY, Kan., Sept. 29, 2014 /PRNewswire/ -- The following statement is being issued by Motley Rice LLC and Robbins Geller Rudman & Dowd LLP regarding the Bennett vs. Sprint Nextel Corporation case, Civil Action No. 2:09-cv-02122-EFM-KMH.

A class action lawsuit about the price of Sprint Nextel Corporation ("Sprint") stock and certain debt securities has been certified.  The lawsuit is Bennett v. Sprint Nextel Corporation, Gary D. Forsee, Paul N. Saleh and William G. Arendt, Civil Action No. 2:09-cv-2122.  The United States District Court for the District of Kansas authorized this notice.  

WHO'S INCLUDED?
You are a Class Member and, depending on the outcome of the case, could get benefits if you bought shares of Sprint stock and certain categories of debt securities between October 26, 2006 and February 27, 2008, inclusive (the "Class Period").  You are a Class Member only if you bought or otherwise acquired stocks or certain debt securities individually, not simply through a mutual fund.  If you sold Sprint stocks or certain debt securities during the Class Period, you are a Class Member only if those shares or certain debt securities were purchased during the Class Period.  This is the definition of the Class:

All persons and entities who purchased or otherwise acquired the publicly-traded securities of Sprint Nextel Corporation from October 26, 2006 through February 27, 2008, inclusive and who were damaged thereby.  Included in the Class are purchasers of Sprint common stock ("Sprint Stock") and the following Sprint debt securities ("Sprint Bonds"): (i) 6.0% bonds, due December 1, 2016; (ii) 6.9% bonds, due May 1, 2019; (iii) 8.75% bonds, due March 15, 2032; (iv) 8.375% bonds, due March 15, 2012; (v) 7.625% bonds, due January 30, 2011; (vi) 6.375% bonds, due May 1, 2009; (vii) 6.875% bonds, due November 15, 2028; (viii) 6.875% bonds, due October 31, 2013; (ix) 5.95% bonds, due March 15, 2014; and (x) 7.375% bonds, due August 1, 2015.  Excluded from the Class are Defendants herein, members of each Defendant's immediate family, any entity in which any Defendant has or had a controlling interest, officers and directors of Sprint, and Defendants' legal representatives, heirs, successors, or assigns of any such excluded party.

Contact your broker to see if you had shares of Sprint Stock or certain debt securities.  If you are not sure you are included, you can get more information, including a detailed notice, at www.sprintsecuritieslitigation.com, by calling toll free 1-844-322-8199, or by emailing [email protected].

WHAT'S THIS ABOUT?
The lawsuit claims that Defendants made a number of false and misleading statements during the Class Period, including representations that Sprint was on track to achieve billions of dollars in benefits from merger synergies, that Sprint improved its customer mix as a result of tightening credit standards, that the integration of Sprint and Nextel systems and operations was progressing as planned, and that the goodwill associated with the Nextel purchase was not impaired.  Defendants deny they did anything wrong and the Court has not decided which side is right. 

On September 29, 2014, a Notice of Pendency of Class Action was mailed to persons who purchased or otherwise acquired Sprint Stock or certain debt securities as described above during the Class Period, as reflected in the books and records of the Company and its stock transfer agent.  That Notice contains important information regarding the rights of Class Members, including the right to seek exclusion from the Class.  If you believe you are a member of the Class as defined above, and if you have not received a copy of the Notice by mail, you are urged to request a copy free of charge by mailing your request to Bennett v. Sprint, c/o GCG, P. O. Box 10069, Dublin, OH 43017-6669.  You may also download a copy of the notice at: www.sprintsecuritieslitigation.com.

WHAT ARE YOUR OPTIONS?
If you want to remain a member of the Class, you do not have to do anything.  If you do not want to be a member of the Class, you must exclude yourself, or you will not be able to sue, or continue to sue, Sprint about the legal claims in this case.  If you exclude yourself, and there is later a recovery in this case, you cannot get money from the recovery.  If you want to be excluded from the Class, you must state your request in writing (including your full name and address) and sign your name.  Your request for exclusion must be mailed to the address above.  To be effective, your request for exclusion must be signed by you, state that you wish to be excluded from the Class, set forth your full name and address, identify the dates, amounts and types of Sprint Stock or Sprint Bonds you purchased during the Class Period, and be postmarked no later than November 28, 2014.  Do not request exclusion if you wish to be a Class Member in this lawsuit. You may also enter an appearance in this case through counsel of your own choosing and at your expense, if you so desire.  If you remain a Class Member you will be bound by any judgment in the Litigation, whether it is favorable or unfavorable.  The detailed notice also explains how to exclude yourself.

Lead counsel for Plaintiffs and the Class are:

Brian O. O'Mara
Robbins Geller Rudman & Dowd LLP
655 West Broadway, Suite 1900
San Diego, CA 92101

James M. Hughes
Motley Rice LLC
28 Bridgeside Boulevard
Mount Pleasant, SC 29464

DATED: September 29, 2014                             

BY ORDER OF THE COURT
THE HONORABLE ERIC F. MELGREN
UNITED STATES DISTRICT JUDGE

1-844-322-8199
www.sprintsecuritieslitigation.com

SOURCE Motley Rice LLC and Robbins Geller Rudman & Dowd LLP