SHAREHOLDER ALERT: Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of NextWave Wireless, Inc. in Connection with the Sale of the Company to AT&T Inc.
PR Newswire
NEW YORK, Aug. 22, 2012
NEW YORK, Aug. 22, 2012 /PRNewswire/ — Levi & Korsinsky is investigating the Board of Directors of NextWave Wireless, Inc. (“NextWave” or the “Company”) (PINK: WAVE) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to AT&T Inc. (NYSE: T).
Click here to learn more about the investigation: http://zlk.9nl.com/nextwave-wireless-wave/, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction NextWave shareholders will receive $1.00 per share plus a contingent payment right representing a $25 million interest in an escrow fund, representing up to approximately $0.95 per share. The transaction has a total approximate value of $600 million, including the assumption of debt. The investigation concerns whether the NextWave Board of Directors breached their fiduciary duties to NextWave stockholders by failing to adequately shop the Company before entering into this transaction and whether AT&T Inc. is underpaying for NextWave shares, thus unlawfully harming NextWave stockholders. In particular, at least one analyst set a price target for NextWave stock at $10 per share.
If you own common stock in NextWave and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/nextwave-wireless-wave/.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street – 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP
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