CLEARWIRE CORP (CLWR)

[JohnCM]

This actually is good news for stock holders ...

"Block & Leviton LLP Investigates Clearwire Corporation for Possible Breaches of Fiduciary Duty in Connection with Its Potenti...

Clearwire Corp. - Class A (MM) (NASDAQ:CLWR)

Today : Wednesday 12 December 2012
BOSTON, Dec. 12, 2012 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, has commenced an investigation into possible breaches of fiduciary duty by the Board of Directors of Clearwire Corporation ("Clearwire" or the "Company") (NASDAQ: CLWR) concerning the discussed acquisition of the Company by Sprint Nextel Corporation ("Sprint") (NYSE: S). Sprint already owns approximately 51% of Clearwire and has the right to appoint a majority of Clearwire's Board of Directors.
News reports have estimated that the deal would be valued at approximately $3.00 for each Clearwire share owned. A transaction price of $3.00 per share represents a paltry 25% premium over the Company's share price prior to the most recent news reports. Moreover, Clearwire appears to be poised for growth and its stock price has already risen 38% this year. Indeed, as recently as October 15, 2012, the Company's stock price hit a high of $2.96 per share, which would be a premium of approximately 1 percent. Moreover, the mean consensus amongst analysts is that the Company's stock price will "outperform" current estimates."