Faruqi & Faruqi, LLP Is Seeking More Cash For The Shareholders Of Clearwire Corp. (CLWR)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Clearwire Corp. (“Clearwire” or the “Company”) (NASDAQ: CLWR) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Sprint Nextel Corp. (NYSE: S), which already owns more than 50 percent of Clearwire, in an all-cash deal valued at approximately $2.1 billion. Under the terms of the proposed transaction, Clearwire’s stockholders will receive $2.90 in cash for each share of Clearwire’s common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $5 for Clearwire.
The investigation focuses on whether Clearwire’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Clearwire’s shareholders.
If you own common stock in Clearwire and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.