Acquisition of Clearwire Corporation by Sprint Nextel Corporation May Not Be in Clearwire's Shareholders' Best Interests

 Acquisition of Clearwire Corporation by Sprint Nextel Corporation May Not Be
                 in Clearwire's Shareholders' Best Interests

PR Newswire

SAN DIEGO and BELLEVUE, Wash., Dec. 19, 2012

SAN DIEGO andBELLEVUE, Wash., Dec. 19, 2012 /PRNewswire/ --Shareholder
rights attorneys at Robbins Umeda LLP are investigating possible breaches of
fiduciary duty and other violations of the law by members of the board of
directors of Clearwire Corporation (NASDAQ: CLWR) in connection with their
efforts to sell the company to Sprint Nextel Corp. (NYSE: S). 

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On December 17, 2012, Clearwire and Sprint announced they had entered into a
definitive merger agreement under which Sprint will acquire Clearwire through
an all cash tender offer that values the company at $2.2 billion. Clearwire
shareholders will receive $2.97 per share. The deal is expected to close in
the middle of 2013.

The Board of Directors' Actions May Prevent Clearwire Shareholders from
Receiving the Maximum Value for Their Stock

Robbins Umeda LLP's investigation focuses on whether the board of directors at
Clearwire is undertaking a fair process to obtain maximum value and adequately
compensate its shareholders. Sprint currently owns approximately 50% of
Clearwire stock. The $2.97 per share offer price is substantially below the
$3.50 target price set by an analyst from Macquarie Capital and below the
$3.00 share price set by an analyst at Guggenheim Securities on April 18,
2012. Also, on October 25, 2012, Clearwire reported its third quarter 2012
results showing a 10% rise in total subscribers, from 9.5 million to 10.5
million. Given these facts, the firm is examining whether the board of
directors' decision to sell Clearwire for $2.97 per share is fair to
shareholders and maximizes the value for their shares.

Clearwire shareholders have the option to file a class action lawsuit against
the company to secure the best possible price for shareholders and the
disclosure of material information so shareholders can vote on the transaction
in an informed manner. Clearwire shareholders interested in information about
their rights and potential remedies can contact Darnell R. Donahue at (800)
350-6003, ddonahue@robbinsumeda.com, or via the shareholder information form
on the firm's website.

Robbins Umeda LLP is a nationally recognized leader in securities litigation
and shareholder rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action lawsuits, and
has helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. For more information, please go
to http://www.robbinsumeda.com.

Press release link:
http://www.robbinsumeda.com/shareholders-rights-blog/clearwire

Attorney Advertising. Past results do not guarantee a similar outcome.

Contact:
Robbins Umeda LLP
Darnell R. Donahue
ddonahue@robbinsumeda.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsumeda.com

SOURCE Robbins Umeda LLP

Website: http://robbinsumeda.com