Key Developments: Leap Wireless International Inc (LEAP.OQ)

LEAP.OQ on NASDAQ Stock Exchange Global Select Market

16.63USD
1 Aug 2013
Price Change (% chg)

$-0.05 (-0.30%)
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Latest Key Developments (Source: Significant Developments)

Law Office of Brodsky & Smith, LLC Announces Investigation Of Leap Wireless International, Inc.
Friday, 19 Jul 2013 06:15pm EDT 

Law office of Brodsky & Smith, LLC announced that it is investigating potential claims against the Board of Directors of Leap Wireless International, Inc. relating to the proposed acquisition by AT&T, Inc. Under the terms of the transaction, Leap Wireless shareholders will receive only $15.00 in cash for each share of Leap Wireless stock they own. Leap Wireless shareholders will also receive a contingent right entitling them to the net proceeds derived from the sale of the Company's 700 Mhz "A Block" spectrum in Chicago. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Leap Wireless for not acting in the Company's shareholders' best interests in connection with the sale process. The transaction may undervalue the Company as Leap Wireless stock traded at $17.27 per share on July 16, 2013.  Full Article

Law Firm Kirby McInerney LLP Investigates Potential Claims on Behalf of Leap Wireless International Inc Shareholders
Wednesday, 17 Jul 2013 02:42pm EDT 

Kirby McInerney LLP announced that it is investigating potential claims against the Board of Directors of LEAP Wireless International Inc (LEAP or the Company) related to the proposed acquisition of the Company by AT&T Inc. (AT&T). Under the terms of the transaction, AT&T will purchase all of the outstanding common stock of LEAP for $15.00 per share in cash, for a total transaction value of approximately $1.2 billion. The investigation concerns whether the LEAP Board of Directors violated its fiduciary duties by agreeing to this transaction and whether the proposed $15.00 per share consideration adequately values LEAP common shares.  Full Article

Law Firm Brower Piven Announces Investigation of Leap Wireless International Inc Proposed Buyout
Wednesday, 17 Jul 2013 01:29pm EDT 

The securities litigation firm of Brower Piven, A Professional Corporation, announced that it has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Leap Wireless International, Inc (Leap or the Company) and other violations of state law by the board of directors of Leap relating to the proposed buyout of the Company by AT&T, Inc. The firm`s investigation seeks to determine, among other things, whether the board of directors of Leap breached their fiduciary duties by failing to maximize shareholder value. According to the press release announcing the proposed buyout, Leap shareholders will receive $15.00 per share in cash for each share of Leap common stock they own. Leap shareholders will also receive a contingent right entitling them to the net proceeds received on the sale of Leap`s 700 Mhz "A Block" spectrum in Chicago, which Leap purchased for $204 million in August 2012.  Full Article

Leap Wireless International Inc Young Law Firm Announces Investigation Of Leap Wireless International Inc
Wednesday, 17 Jul 2013 11:35am EDT 

The Young Law Firm announced that it is investigating possible claims concerning the proposed acquisition of Leap Wireless International Inc by AT&T Inc. The investigation concerns whether the directors of Leap Wireless have obtained fair value for the sale of the Company and have fulfilled their fiduciary duties to the Company`s shareholders in connection with the proposed sale.  Full Article

Law Office of Brodsky & Smith, LLC Announces Investigation Of Leap Wireless International Inc
Tuesday, 16 Jul 2013 05:24pm EDT 

Law office of Brodsky & Smith, LLC announced that it is investigating potential claims against the Board of Directors of Leap Wireless International Inc relating to the proposed acquisition by AT&T, Inc. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Leap Wireless for not acting in the Company's shareholders' best interests in connection with the sale process. The transaction may undervalue the Company as Leap Wireless stock traded at $17.27 per share on July 16, 2013.  Full Article

Ryan & Maniskas, LLP Announces Investigation of Leap Wireless International Inc
Tuesday, 16 Jul 2013 11:11am EDT 

Ryan & Maniskas, LLP announced that it is investigating potential claims against the board of directors of Leap Wireless International Inc concerning possible breaches of fiduciary duty and other violations of law related to the Company's efforts to sell the Company to AT&T, Inc. Investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Leap Wireless for not acting in the Company's shareholders' interests in connection with the sale process.  Full Article

Levi & Korsinsky Announces Investigation Into Possible Breaches Of Fiduciary Duty By Board Of Leap Wireless International Inc
Tuesday, 16 Jul 2013 07:08am EDT 

Levi & Korsinsky is investigating the Board of Directors of Leap Wireless International Inc. for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to AT&T, Inc. Under the terms of the transaction, Leap Wireless shareholders will receive $15.00 per share of Leap Wireless stock they own; Leap Wireless shareholders will also receive a contingent right entitling them to the net proceeds derived from the sale of the Company's 700 Mhz A Block spectrum in Chicago. Shareholders representing approximately 29.8% of the Company's outstanding shares have already agreed to tender their shares. The investigation concerns whether the Leap Wireless Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the transaction, and whether AT&T, Inc. is underpaying for Leap Wireless, thus unlawfully harming Leap Wireless shareholders.  Full Article

Pomerantz Law Firm Investigates Claims on Behalf of Investors of Leap Wireless International Inc
Monday, 15 Jul 2013 03:10pm EDT 

Pomerantz Grossman Hufford Dahlstrom & Gross LLP announced that it is investigating claims on behalf of investors of Leap Wireless International, Inc (Leap or the Company) concerning the proposed acquisition of Leap by AT&T, Inc. The investigation concerns whether the Leap directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Leap shareholders will be entitled to receive $15.00 per share in cash for each share of Leap common stock. Leap shareholders will also receive a contingent right entitling them to the net proceeds received on the sale of Leap's 700 Mhz A Block spectrum in Chicago. However, the offered price is below average Revenue and EBITDA multiples of comparable transactions, according to Bloomberg.  Full Article

Rigrodsky & Long, P.A. Announces Investigation Of Leap Wireless International Inc Buyout
Monday, 15 Jul 2013 01:07pm EDT 

Rigrodsky & Long, P.A. announced that it is investigating potential legal claims against the board of directors of Leap Wireless International Inc (Leap Wireless or the Company) regarding possible breaches of fiduciary duties and other violations of law related to the Company`s entry into an agreement to be acquired by AT&T Inc. (AT&T) in a transaction valued at approximately $1.19 billion. Under the terms of the agreement, public shareholders of Leap Wireless will receive $15.00 per share in cash for each share of Leap Wireless they own. The investigation concerns whether Leap Wireless`s board of directors failed to adequately shop the Company and obtain the best possible value for Leap Wireless`s shareholders before entering into an agreement with AT&T.  Full Article

Briscoe Law Firm and Powers Taylor Investigate Sale of Leap Wireless International Inc to AT&T
Monday, 15 Jul 2013 12:30pm EDT 

Willie Briscoe and the securities litigation firm of Powers Taylor, LLP announced that they are investigating the sale of Leap Wireless International Inc to AT&T, Inc. for shareholders. Under the terms of the purchase agreement, valued at approximately $1.19 billion, Leap shareholders will receive only $15.00 in cash per share owned, well below the 52-week high of $17.25.  Full Article

Leap Wireless quarterly loss widens as it loses subscribers

- Leap Wireless , which agreed to be bought by AT&T Inc last month, reported a bigger quarterly loss as it lost subscribers.

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