iPCS, an affiliate of Sprint Nextel, said it settled shareholder lawsuits related to its acquisition by Sprint.
As part of the settlement, iPCS will provide new disclosures related to the deal in a Securities & Exchange Commission filing to be submitted later today.
On Tuesday, iPCS and other parties to the suiits reached a preliminary "memorandum of understanding" to settle all claims in the lawsuits, according to a statement.
Sprint announced its tender offer in late October to acquire all the outstanding stock of iPCS for $24 a share. The tender offer expires on Nov. 25. iPCS has recommended that shareholder accept the tender offer, though on Tuesday a large iPCS shareholder voiced opposition to the deal.

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