Stull, Stull & Brody Announces Class Action on Behalf of Shareholders of SkyTerra Communications, Inc.

October 8, 2009 4:25 PM EDT

NEW YORK--(BUSINESS WIRE)-- Notice is hereby given that a class action has been commenced on behalf of shareholders of SkyTerra Communications, Inc. ("SkyTerra" or the "Company") (OTCBB: SKYT) for breaches of fiduciary duty and other violations of state law in connection with an agreement by the Company's Board of Directors to sell all of the Company's outstanding shares of common stock to its largest shareholder, Harbinger Capital Partners ("Harbinger"), at a price of $5.00 per share in cash.

If you own common stock of SkyTerra and wish to obtain additional information about this matter, please contact Stull, Stull & Brody at the toll-free number listed below. Stull, Stull & Brody has litigated many class actions for violations of securities laws and breaches of fiduciary duties on behalf of defrauded investors over the past 40 years and has obtained court approval of substantial settlements on numerous occasions.

The current investigation concerns the proposed price offered to the Company's shareholders and the process by which SkyTerra's Board of Directors is addressing the proposed transaction, given that Harbinger and its affiliates collectively hold approximately 48% of SkyTerra's outstanding voting common stock and approximately 49% of SkyTerra's voting and non-voting common stock. At least one analyst has set an $8.00 price target for SkyTerra stock. The transaction is expected to consummate in late 2009 or early 2010, subject to customary closing conditions, including all necessary regulatory and stockholder approvals.

If you wish to discuss this matter or have any questions concerning this notice or your rights or interests with respect to this matter, please contact Aaron Brody, Esq. at Stull, Stull & Brody by calling 1-800-337-4983 or 1-212-687-7230, or by email to ssbny@aol.com or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017.

Attorney advertising. Prior results do not guarantee a similar outcome.

    Source: Stull, Stull & Brody

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