MetroPCS investors file suit to delay T-Mobile merger vote

Friday 29 March 2013 | 08:39 CET | News
A group of MetroPCS investors has sued the company in an effort to postpone a shareholder vote on its proposed USD 39 billion merger with T-Mobile USA, Bloomberg reports. Plaintiffs including GS Master Trust and the Merger Fund claim the company issued a misleading proxy statement in October 2012 when they sought shareholder approval for the merger, alleging breach of fiduciary duty and securities law. The complaint states that T-Mobile USA and its parent company, Deutsche Telekom, will gain enormous benefits from the deal at the expense of MetroPCS shareholders. Defendants named in the suit

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Categories: Mobile & Wireless
Companies: Deutsche Telekom / MetroPCS / T-Mobile USA
Countries: United States
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