NEW YORK, July 15, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Leap Wireless International, Inc. ("Leap" or the "Company") (NASDAQ: LEAP) (ISIN: US5218633080) (CUSIP: 521863308) concerning the proposed acquisition of Leap by AT&T, Inc.
The investigation concerns whether the Leap directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Leap shareholders will be entitled to receive $15.00 per share in cash for each share of Leap common stock. Leap shareholders will also receive a contingent right entitling them to the net proceeds received on the sale of Leap's 700 Mhz "A Block" spectrum in Chicago. However, the offered price is below average Revenue and EBITDA multiples of comparable transactions, according to Bloomberg.
Leap shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at email@example.com or 212-661-1100 or 888-476-6529, ext. 237.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.CONTACT: Robert Willoughby Pomerantz Grossman Hufford Dahlstrom & Gross LLP212-661-1100 ext. 237 firstname.lastname@example.org SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP