Leap delays 3Q report, shareholder meeting
Leap Wireless pushes back release of 3rd-qtr results, shareholder vote on AT&T deal
SAN DIEGO (AP) -- Leap Wireless International Inc., the pre-paid cellphone carrier that has agreed to be acquired by AT&T, said Wednesday that it needs more time to file its results for its most recent quarter so it can correct previous financial reports.
The company's third-quarter results will now be released on Nov. 8. The San Diego-based company also said it will adjourn its special meeting of its shareholders set for Thursday without conducting any business and reconvene it on Oct. 30.
The meeting is being held to get shareholder approval for the proposed acquisition of the company by AT&T Inc.
Both the release of the financial results and the shareholder meeting are being pushed back to allow Leap time to file amendments to its report for the year ended Dec. 30, 3012 and its reports for the quarters ended March 31 and June 30 of this year. The company said it needs to address a classification error in the presentation of certain capital expenditures.
Leap said it expects to file the amended reports on Oct. 28 and its reports for the quarter ended Sept. 30 on or before Nov. 12.
Its shares finished at $15.99 on Tuesday.
