Bennett v. Sprint Nextel Corporation, No. 2:09-cv-02122-EFM- KMH (D. Kan.) (misrepresentations regarding success of a merger)

As counsel to the European institutional investor lead plaintiff, Sturman LLC prosecuted a class action on behalf of investors who purchased Sprint Nextel common stock between October 26, 2006 through February 27, 2008.  The class action complaint alleged that the defendants made materially false and misleading statements regarding Sprint’s business and financial results following Sprint’s merger with Nextel.  As a result, the complaint alleged that Sprint stock traded at artificially inflated prices during the class period and that, when the market learned the truth, the value of Sprint’s shares plummeted.  In August 2015, the court granted final approval to a $131 million settlement.