SHAREHOLDER ALERT: Law Firm Of Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of MetroPCS Communications, Inc. In Connection With The Sale Of The Company
Levi & Korsinsky is investigating the Board of Directors of MetroPCS
Levi & Korsinsky is investigating the Board of Directors of MetroPCS Communications, Inc. (“MetroPCS” or the “Company”) (NYSE: PCS) for possible breaches of fiduciary duty and other violations of state law in connection with Company’s entry into an agreement with Deutsche Telekom to combine T-Mobile USA and MetroPCS. Click here to learn more about the investigation: http://zlk.9nl.com/metropcs-communications-pcs/, or call: 877-363-5972. There is no cost or obligation to you. 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. The investigation concerns whether MetroPCS’s board of directors failed to adequately shop the Company and obtain the best possible value for MetroPCS’s shareholders before entering into an agreement with Deutsche Telekom. In particular, at least one analyst set a price target for MetroPCS stock at $18.00 per share. If you own common stock in MetroPCS and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/metropcs-communications-pcs/. Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
MetroPCS Communications (NYSE:PCS) hit a new 52-week high Thursday as it is currently trading at $16.62, above its previous 52-week high of $14.51 with 155,204 shares traded as of 9:31 a.m. ET. Average volume has been 10.6 million shares over the past 30 days.