|[March 14, 2014]
NII Holdings Shareholder Alert: Former SEC Attorney Willie Briscoe and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and Directors
DALLAS --(Business Wire)--
Former United States Securities and Exchange Commission attorney Willie
Briscoe, founder of The
Briscoe Law Firm, PLLC, and the securities litigation firm of Powers
Taylor LLP announce that a federal class action lawsuit has been
filed against NII Holdings (News - Alert), Inc. ("NII" or "Company") (NasdaqGS: NIHD)
and several officers and directors for acts taken during the period of
February 25, 2010 to February 27, 2014 (the "Class Period").
If you are an affected NII shareholder and want to learn more about the
investigation or join the potenial action, contact Willie Briscoe at
The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com,
or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, or via
e-mail at firstname.lastname@example.org.
There is no cost or fee to you.
In the complaint, the defendants are alleged to have violated certain
provisions of the Securities Exchange Act of 1934. Specifically, the
complaint alleges that defendants misrepresented and/or failed to
disclose that (i) NII reported inaccurate capital and operating leases,
which inflated its financial performance in 2009 and 2010 and promoted
skewed projects of the success of its effort to launch a new network;
(ii) NII's attempts to shift away from its iDEN-based infrastructure
were a failure from the outset, causing its subscribers to defect in
masses; (iii) NII's replacement network in key markets such as Mexico
was not equipped to withstand the service load created by the phase-out
of the iDEN network; (iv) although NII's Mexican operating company,
Comunicaciones Nextel de Mexico, S.A. de C.V.'s profitability was
significantly declining, it deferred tax assets, altering the projected
profitability and causing artificially inflated values; and (v) as a
result of the above, Defendants lacked a rational basis for their
projections of NII's performance and profitability. According to the
complaint, when the truth leaked into the market NII's stock dropped.
Briscoe Law Firm, PLLC is a full service business litigation,
commercial transaction, and public advocacy firm with more than 20 years
of experience in complex litigation and transactional matters.
Taylor LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
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