the lawsuits should hit soon...hold your shares and contact the law office
I would expect a lawsuit to be filed in short order seeking "class" status. I will vote my shares as a "no" and hope that Crest and Kellet can lead the way to a higher price.
In the meantime, Sprint can send over the 300 million dollar milestone payment and explain to the judge why they sandbagged the buildout...only, to have plans to ramp it up the day after stealing clwr.
That part of it, "sandbagging the buildout" can be explained very easily: Sprint had no obligation other than what was previously agreed to, trumped or not. Clearwire's business plan was a failure and no judge will likely hold on that basis alone that Sprint was in the wrong not to prop up a failing business entity that they only partly owned. It is a conflicted set of interests with obligations to both support Clearwire through the nature of the relationship and agreements and the obligations Sprint has to its own shareholders. The situation is such that Clearwire's BOD is more to blame if malfeasance were determined than Sprint. However, since Clearwire is defacto bankrupt, that is placing blame on a company that escapes their obligations.
Go for it. I'd peg odds that a class action will arise and put back the clock at no greater than 20%. That is takes place at all no better than 50%.
The time to have looked under the hood to have figured out the basics was before you bought the wreck.
I bet odds that you are wrong as you have been since day one you bloviating fool...like no one would ever buy CLWR right? I will just vote no period and time will tell..this deal is FAR from over IMO. Don't let these a-hats who have no skin in this game fool ya..they r just fools with TR leading the pack. Just sit back and watch the show...2013 is going to be an interesting year for the market and these perma bears gonna eat sheit sooner rather then later...tide is turning.
Answer me this riddler.....why would clwr accept 2.2B when they were/are being paid 1.6B for Sprints use of their spectrum/Wimax through just 2015? Why would you toss in the whole works....which by itself has a 1.2 Billion dollar value? Not including cash on hand? It does NOT ADD....I dont care what BS spin you put on it. All they have to do is sell all spectrum
I think the lawsuits are being brought against the Clearwire BOD, but Sprint has assigned some of those directors. If it is determined that there was a lack of fiduciary duty in valuing the enterprise value of the company based on true, market-driven GAAP value, then the lawsuit has merit and will move forward. The valuation of any asset to determine book value of the asset seems to be one of the driving factors of the lawsuit, as well as a hint of insider collusion, which will be more difficult to show. IMHO there will be a lawsuit no matter what happens simply to allow common shareholders to get a "peek under the hood" of this company and all the crazy moving parts it has been subject to over the years, including insider trading allegations, BOD collusion allegations, etc.