Sprint Nextel Corp. said Wednesday it has reached a "memo of understanding" that would settle a series of shareholder lawsuits challenging its $483 million acquisition of Virgin Mobile USA.
In a regulatory filing, the Overland Park, Kansas-based company said it and Virgin were releasing additional details about the structure of the deal and the negotiations that led up to the two companies reaching an agreement.
In return, the filing said, the plaintiffs in five cases filed in New Jersey state court have agreed to withdraw their lawsuits once a judge approves the settlement and the acquisition is completed. They have also agreed to withdraw two …
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