ATLANTA, Aug. 4, 2009 (GLOBE NEWSWIRE) -- Holzer Holzer & Fistel, LLC is investigating whether Virgin Mobile USA, Inc.'s directors complied with their fiduciary duties in approving the proposed buyout of Virgin Mobile USA, Inc. ("Virgin Mobile" or the "Company") (NYSE:VM) by Sprint Nextel Corp. ("Sprint Nextel"). According to Sprint Nextel's announcement of July 28, 2009, Virgin Mobile shareholders "will receive Sprint (Nextel) shares having a 10-day average closing price equivalent to $5.50 per Virgin Mobile USA share." The announcement further states that exchange ratio is subject to certain restrictions and that the total value of the transaction is approximately $483 million.
Current holders of Virgin Mobile common stock with questions concerning their legal rights are encouraged to contact Holzer Holzer & Fistel, LLC and its attorneys Michael I. Fistel, Jr., Esq. or Marshall P. Dees, Esq. via email at mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.