An investigation on behalf of investors of MetroPCS Communications Inc (NYSE:PCS) in connection with the proposed takeover was announced and NYSE:PCS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/08/2012 -- An investigation on behalf of investors in MetroPCS Communications Inc (NYSE:PCS) shares was announced concerning whether the merger offer to combine T-Mobile USA and MetroPCS Communications, Inc and the takeover process are unfair to investors in NYSE:PCS shares.
Investors who purchased shares of the MetroPCS Communications Inc (NYSE:PCS) prior to October 3, 2012, and currently hold any of those NYSE:PCS shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of MetroPCS Communications Inc breached their fiduciary duties owed to NYSE:PCS investors in connection with the proposed acquisition.
On October 3, 2012, Deutsche Telekom (XETRA: DTE) and MetroPCS Communications, Inc. (NYSE: PCS) announced that they have signed an agreement to combine T-Mobile USA and MetroPCS Communications, Inc. Under the terms of the agreement, MetroPCS will declare a 1 for 2 reverse stock split, pay $1.5 billion to its shareholders (a value of approximately $4.09 per share prior to the reverse split) and acquire all of T-Mobile’s capital stock by issuing to Deutsche Telekom 74% of MetroPCS’s common stock on a pro forma basis.
However, MetroPCS Communications’ financial performance improved lately and at least one analyst set a price target for MetroPCS stock at $18.00 per share.
Therefore the investigation a law firm concerns whether the proposed transaction is unfair to NYSE:PCS stockholders.
Specifically, the investigation focuses on whether the MetroPCS Communications Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in MetroPCS Communications Inc (NYSE:PCS) and purchased their MetroPCS Communications Inc shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego