Fergie's Tech Blog

Sprint Nextel Sues Nextel Partners

An AP newswire article by David Twiddy, via The Washington Post, reports that:

For the second time in a week, Sprint Nextel Corp. has filed suit against affiliate Nextel Partners Inc. as their disagreement over the likely acquisition of Nextel Partners becomes increasingly bitter.

Nextel WIP Corp., a subsidiary of Sprint Nextel, sued Tuesday in Delaware Chancery Court, demanding access to Nextel Partners' financial records and other documents. A majority of the documents detail how Nextel Partners reached its forecasts for future revenue that were included in securities filings and public statements over the last three months.

The suit also said it was looking "to investigate mismanagement, breaches of fiduciary duty an/or misconduct."

posted by Fergie @ 10/19/2005 05:33:00 AM