RadioShack creditors’ lawsuit says Sprint killed 6,000 jobs

jobs

By Tom Hals and Svea Herbst-Bayliss

Sprint Corp used confidential information from its alliance with RadioShack Corp to open competing mobile phone stores, dooming the comeback by the electronics retailer and destroying jobs, according to a lawsuit filed on Wednesday by RadioShack creditors.

RadioShack emerged from bankruptcy in 2015 with a deal to co-brand about 1,400 stores with Sprint, which was meant to help the telecoms provider better compete with larger rivals AT&T Corp and Verizon Communications Inc.

However, by early 2017 RadioShack, owned by General Wireless, had returned to bankruptcy and is liquidating.

The lawsuit filed in Delaware Superior Court by RadioShack’s official committee of unsecured creditors says that Overland Park, Kansas-based Sprint breached its contract with RadioShack, and is seeking $500 million in damages.

Read the Full Article at www.reuters.com >>>>

Related Posts


Comments

The views expressed herein are the views of the author exclusively and not necessarily the views of MVJN, MVJN authors, affiliates, advertisers, sponsors, partners, technicians or the Veterans Today Network and its assigns. Notices

Posted by on 12:04 pm, With 0 Reads, Filed under Economy. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

 

 

You must be logged in to post a comment Login


TOP 50 READ ARTICLES THIS MONTH
From Veterans Today Network