MetroPCS Communications, Inc. Merger Litigation (NYSE: PCS)
Law Office of Brodsky & Smith, LLC Announces Investigation of MetroPCS Communications, Inc.
BALA CYNWYD, October 5, 2012/PR Newswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of MetroPCS Communications, Inc. (“MetroPCS” or the “Company”) (NYSE- PCS-News) relating to the proposed merger with T-Mobile USA. (“T-Mobile”).
Under the terms of the transaction, MetroPCS will declare a 1 for 2 reverse stock split and make a cash payment of $1.5 billion to its shareholders or approximately $4.09 per share prior to the reverse split. MetroPCS will then issue 74% of MetroPCS common stock to Deutsche Telekom, the parent company of T-Mobile. MetroPCS will be combined with T-Mobile with the MetroPCS shareholders owning 26% of the combined company.
The transaction may undervalue the Company as MetroPCS stock traded at $18.69 as recently as May 8, 2011 and an analyst has set an $18.00 per share price target for MetroPCS stock. In addition, the MetroPCS Board may have failed to adequately shop the Company as it has been reported that MetroPCS may have another bidder.
If you own shares of MetroPCS stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org by calling toll free 877-LEGAL-90.
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