Pomerantz LLP is investigating claims on behalf of investors of Sprint Corporation ("Sprint" or the "Company") (NYSE: S). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Sprint and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On April 15, 2019 , Sprint filed a letter with the Federal Communications Commission ("FCC") regarding the "Applications of T-Mobile US, Inc. and Sprint Corporation for Consent to Transfer Control of Licenses and Authorizations, WT Docket No. 18-197" (the "FCC Letter"). The FCC Letter disclosed, in relevant part, that due to weak network infrastructure and a subscriber base prone to seeking better deals from Sprint's competitors, Sprint's current performance would be unsustainable if the Company failed to merge with T-Mobile US, Inc.
Following the submission of the FCC Letter, Sprint's stock price fell $0.22 per share, or 3.61%, to close at $5.88 on April 15 , 2019. On April 16, 2019 , the Wall Street Journal published an article entitled "T-Mobile-Sprint Deal Runs Into Resistance From DOJ Antitrust Staff", which referenced the FCC Letter and reported its contents.
Following publication of the Wall Street Journal article, Sprint's stock price fell $0.37 , or 6.16%, to close at $5.64 on April 17, 2019 .