-
If you are a current investor in Leap Wireless International, Inc. (NASDAQ: LEAP) shares, and/or if you have any information relating the investigation, you have certain options and you should contact the Shareholders Foundation, Inc.
-
To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
An investigation on behalf of investors of Leap Wireless International, Inc. (NASDAQ: LEAP) over possible breaches of fiduciary duties was announced.
The investigation by a law firm concerns whether Leap Wireless International, certain of its officers and directors, and/or others breached their fiduciary duties.
Leap Wireless Intl, Inc. (NASDAQ:LEAP) was able to increase its annual Total Revenue from $1.63billion in 2007 to $2.697billion in 2010. Its first quarter Revenue in 2011 rose from its 2010 first quarter revenue of $683.76million to $779.91million. As of December 31, 2010, Cricket service, offered by Cricket, a wholly-owned subsidiary of Leap Wireless Intl, was offered in 35 states and the District of Columbia and had approximately 5.5 million customers.
With a current market cap of $1.3billion the price tag would be probably relatively affordable for any acquirer, considering that this would be less than $250 per subscriber with Leap's 5.5 million subscribers basis.
On the other side shares of Leap Wireless International, Inc. (Public, NASDAQ:LEAP) traded during 2010 as low as $9.83 per share in August 2010 and increased to $17.20 per share on May 10, 2011, but are still far below high trading prices in 07, 08, and 09.
