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Sprint, Virgin Mobile to Settle With Unhappy Investors

Sprint Nextel Corp. (S) has agreed to settle shareholder lawsuits filed after it decided to buy Virgin Mobile USA (VM) for $483 million.

Dozens of Virgin Mobile investors sued the two companies, saying the financial terms weren’t in their best interest. Sprint and Virgin Mobile agreed to unveil more details about the merger’s structure and the negotiations that led to the deal. Those stockholders agreed to withdraw their lawsuits once a judge approves the settlement and the Sprint-Virgin Mobile acquisition is done.

The suit filed by iPCS for unfair competition, however, still is active.


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