Nextel Partners sues over brand name
A Reuters newswire article on CNN/Money reports that:
Nextel Partners Inc., said Tuesday that Nextel Communications Inc.'s. proposed merger terms with Sprint Corp. violate agreements between Nextel Communications and Nextel Partners.
Shares in Nextel Partners fell 2.7 percent in late-day trade on the Nasdaq.
Nextel Partners -- a provider of wireless services under the Nextel brand which is partly owned by Nextel Communications -- filed a lawsuit with the New York Supreme Court seeking to "preserve the status quo" until the dispute -- primarily over branding concerns -- is resolved, according to a filing with the Securities and Exchange Commission.