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.
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