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 include MetroPCS CEO Roger Linquist and directors W Michael Barnes and Arthur Patterson. The plaintiffs want the meeting delayed so that the proxy statement can be amended. MetroPCS told Bloomberg in an e-mailed statement that it intended to defended itself against the lawsuit.
