Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of IPCS, Inc.

Levi & Korsinsky is investigating the Board of Directors of IPCS Inc. (“IPCS” or the “Company”) (NasdaqGS: IPCS) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Sprint Nextel Corp. Under the terms of the transaction, IPCS shareholders will receive $24.00 in cash for each share of IPCS common stock they own for a total transaction value of approximately $426 million.

The investigation concerns whether the IPCS Board of Directors breached their fiduciary duties to IPCS shareholders by failing to take adequate steps to maximize shareholder value. The median price target for IPCS stock set by analysts is $25.00 per share, with at least one analyst setting a $30.00 per share price target, and the Board agreed to a non-solicitation provision and a $12.5 million termination fee that will all but ensure that no superior offers will ever be forthcoming.

If you own common stock in IPCS and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/ipcs1.html.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.

Ipcs (MM) (NASDAQ:IPCS)
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