Plaintiffs Withdraw Request for Injunction in the Recombination Lawsuits Against Sprint
April 05 2004 - 9:52AM
PR Newswire (US)
Plaintiffs Withdraw Request for Injunction in the Recombination
Lawsuits Against Sprint OVERLAND PARK, Kan., April 5
/PRNewswire-FirstCall/ -- Sprint has been advised of the
plaintiffs' decision to withdraw their request for a preliminary
injunction in the lawsuits related to the recombination of the
company's PCS and FON tracking stocks. "We are pleased with this
development," said Tom Gerke, Sprint executive vice president and
general counsel. "We continue to believe that the lawsuits filed in
connection with the recombination are without merit." (Logo:
http://www.newscom.com/cgi-bin/prnh/20001013/SPRINTLOGO ) The
company announced Feb. 29, 2004 that its board of directors had
decided to recombine the company's tracking stocks and return to a
single common stock. As a result, the PCS common stock will be
eliminated and each share of PCS common stock will convert
automatically into .50 shares of FON common stock on April 23,
2004. About Sprint Sprint is a global integrated communications
provider serving more than 26 million customers in over 100
countries. With approximately 67,000 employees worldwide and over
$26 billion in annual revenues in 2003, Sprint is widely recognized
for developing, engineering and deploying state-of-the-art network
technologies, including the United States' first nationwide
all-digital, fiber-optic network and an award-winning Tier 1
Internet backbone. Sprint provides local communications services in
39 states and the District of Columbia and operates the largest
100-percent digital, nationwide PCS wireless network in the United
States. For more information, visit http://www.sprint.com/. Photo:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20001013/SPRINTLOGO AP
Archive: http://photoarchive.ap.org PRN Photo Desk, +1-888-776-6555
or +1-212-782-2840 DATASOURCE: Sprint CONTACT: Mark Bonavia of
Sprint, +1-913-794-1088, Web site: http://www.sprint.com/
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