NII Holdings Inc., a provider of mobile-phone service in Latin America, asked a Manhattan bankruptcy judge to halt a securities class-action against some of its current and former officers pending in a Virginia district court (In re NII Holdings Inc., Bankr. S.D.N.Y., 14-12611, motion filed 10/23/14).
The suit is over claims that NII and three of its officers made false and misleading statements about efforts to transition wireless networks. Bankruptcy halted the case only against NII, not the individuals.
NII wants the so-called automatic stay extended to the officers because continuing it would significantly distract them from ...
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