Izard Nobel LLP Announces Class Action Lawsuit Against Sprint Nextel Corporation

HARTFORD, CT--(Marketwire - March 11, 2009) - The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the District of Kansas on behalf of those who purchased the common stock of Sprint Nextel Corporation ("Sprint" or the "Company") (NYSE: S) between October 26, 2006 and February 27, 2008, inclusive (the "Class Period").

The Complaint charges that Sprint and certain of its officers and directors violated federal securities laws by issuing materially false statements regarding the Company's business and financial results. Specifically, defendants concealed the following: (i) the Company's CDMA business was not as healthy as represented; (ii) Sprint would be unable to complete migration of its entire customer base to a uniform billing platform by 2007 from multiple legacy platforms; (iii) Sprint had not taken steps to address customer service issues; (iv) Sprint failed to disclose known trends and uncertainties concerning the loosening of its credit standards for its CDMA network and its customer service issues; (v) Sprint was not adequately reserving for impaired goodwill associated with the Nextel merger or its allowance for bad debts related to subprime subscribers; (vi) Sprint had far greater exposure to liquidity concerns and ratings downgrades than previously disclosed; and (vii) Sprint was failing to integrate the CDMA network and the iDEN network.

If you are a member of the class, you may, no later than May 11, 2009, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/sprintnextel/, or contact Izard Nobel LLP toll-free at (800) 797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com.