Block & Leviton LLP Investigates Clearwire Corporation for Possible Breaches of Fiduciary Duty in Connection with Its Potential

 Block & Leviton LLP Investigates Clearwire Corporation for Possible Breaches
   of Fiduciary Duty in Connection with Its Potential Acquisition by Sprint
                              Nextel Corporation

PR Newswire

BOSTON, Dec. 12, 2012

BOSTON, Dec. 12, 2012 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com),
a Boston-based law firm representing investors nationwide, has commenced an
investigation into possible breaches of fiduciary duty by the Board of
Directors of Clearwire Corporation ("Clearwire" or the "Company")
(NASDAQ:CLWR) concerning the discussed acquisition of the Company by Sprint
Nextel Corporation ("Sprint") (NYSE:S). Sprint already owns approximately
51% of Clearwire and has the right to appoint a majority of Clearwire's Board
of Directors.

News reports have estimated that the deal would be valued at approximately
$3.00 for each Clearwire share owned. A transaction price of $3.00 per share
represents a paltry 25% premium over the Company's share price prior to the
most recent news reports. Moreover, Clearwire appears to be poised for growth
and its stock price has already risen 38% this year. Indeed, as recently as
October 15, 2012, the Company's stock price hit a high of $2.96 per share,
which would be a premium of approximately 1 percent. Moreover, the mean
consensus amongst analysts is that the Company's stock price will "outperform"
current estimates.

Block & Leviton's investigation seeks to determine, among other things,
whether Clearwire's Directors breached their fiduciary duties by failing to
maximize shareholder value in the potential acquisition by Sprint and the
overall fairness of the process by which the Company's Directors are
considering the transaction.

If you are a Clearwire shareholder and have questions about your legal rights,
or if you have information relevant to this investigation, please contact
attorney Steven P. Harte, at
(617) 398-5600 or email him at Steven@blockesq.com.

Block & Leviton is a Boston-based law firm representing investors nationwide
for violations of securities laws. The firm's lawyers have collectively been
prosecuting securities cases on behalf of investors for over 50 years. This
notice may constitute attorney advertising.

Contact:
BLOCK & LEVITON LLP
Steven P. Harte, Esq.
steven@blockesq.com
(617) 398-5600

SOURCE Block & Leviton LLP

Website: http://www.blockesq.com
 
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