STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Leap Wireless International, Inc. (“Leap” or the “Company”) (NASDAQ:LEAP) 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.
If you currently own common stock of Leap and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at hoffman@browerpiven.com, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.