MetroPCS Sues Merrill Lynch

Will it have an effect on M&A chatter?

Dan Jones, Mobile Editor

October 22, 2007

1 Min Read
MetroPCS Sues Merrill Lynch

9:00 AM -- Low-cost wireless provider MetroPCS Inc. (NYSE: PCS) is suing its brokerage, Merrill Lynch & Co. Inc. , for making what it calls "risky investments."

The carrier is alleging that Merrill invested $133.9 million of its money in securities underwritten by Merrill and backed by pools of mortgages and other assets.

It'll be curious to see if the suit will have any impact on the continuing market chatter about Leap Wireless International Inc. (Nasdaq: LEAP). MetroPCS has continued to be one of the main names in speculation about a possible acquisition.

— Dan Jones, Site Editor, Unstrung

About the Author

Dan Jones

Mobile Editor

Dan is to hats what Will.I.Am is to ridiculous eyewear. Fedora, trilby, tam-o-shanter -- all have graced the Jones pate during his career as the go-to purveyor of mobile essentials.

But hey, Dan is so much more than 4G maps and state-of-the-art headgear. Before joining the Light Reading team in 2002 he was an award-winning cult hit on Broadway (with four 'Toni' awards, two 'Emma' gongs and a 'Brian' to his name) with his one-man show, "Dan Sings the Show Tunes."

His perfectly crafted blogs, falling under the "Jonestown" banner, have been compared to the works of Chekhov. But only by Dan.

He lives in Brooklyn with cats.

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like