Statement from Crest Financial
HOUSTON, Dec. 17, 2012 /PRNewswire-USNewswire/ -- Crest Financial Limited Friday amended its previously filed complaint against Sprint and Clearwire in the Court of Chancery in Delaware to make the lawsuit into a class action and to ask the court to block as unfair the proposed merger between Sprint and Clearwire.
Crest's amended complaint was filed because of the announcement, made after Crest's original complaint was filed, that Sprint has proposed to acquire all of the Clearwire shares not already owned by Sprint.
Sprint's proposal to acquire Clearwire was anticipated in Crest's original complaint and demonstrates exactly what Crest has alleged – that Sprint hatched a scheme to extract the value of Clearwire's assets for its own benefit and to the detriment of Clearwire's minority shareholders. The amended complaint is available at www.bancroftpllc.com/crest.
SOURCE Crest Financial Limited
More by this Source
Crest Supplements its Proxy Statement Opposing Revised Terms for Sprint-Clearwire Merger
May 23, 2013, 19:41 ET
Crest Financial Urges Clearwire Stockholders to Focus on Battle for Control of Sprint
May 20, 2013, 08:00 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.