Class Period in Class Action Against NextWave (NADSDAQ: WAVE) Will Be Expanded to November 27, 2006

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) October 21, 2008 -- News in the securities class action against Nextwave Wireless, Inc. (NASDAQ: WAVE):

The proposed class period in the class action against Nextwave Wireless, Inc. (NASDAQ: WAVE) will be expanded from initially starting March 30, 2007 to a new proposed class period start of November 27, 2008. The new proposed expanded class period will be start on Novmber 27, 2006 and end on August 7th, 2008.

The initial class action filed on Tuesday September 16, 2008 in in the United States District Court for the Southern District of California was on behalf of purchasers of NextWave Wireless Inc. (NASDAQ:WAVE) common stock during the period between March 30th, 2007 and August 7th, 2008 against NextWave and certain of its officers and directors over allegedly materially false and misleading statements regarding its business and financial results. According to a law firm the class action will be expanded back until November 27, 2006. Thus proposed new expanded class period will be on behalf of purchasers of NextWave Wireless Inc. (“NextWave”) (NASDAQ:WAVE) common stock during the period between November 27th, 2006 and August 7th, 2008 over allegedly materially false and misleading statements regarding its business and financial results..

If you purchased or otherwise acquired NextWave Wireless, Inc. (“NextWave”) (NASDAQ:WAVE) common stock during the period between November 27,2006 and August 7th, 2008, you have certain rights and there are strict and short deadlines running (November 14th, 2008). You should immediately contact the Shareholders Foundation, Inc.!

Email: Mail@ShareholdersFoundation.com

or Call us TODAY!

Phone: +1-(858)-779-1554

According to the complaint the plaintiff accuses NextWave and certain of its officers and directors with violations of the Securities Exchange Act of 1934.

Specifically the stockholder alleges that between March 30th, 2007 and August 7th, 2008 the defendants issued materially false and misleading statements regarding the Nextwave Wireless Inc.’s business and financial results. As a result of these statements, NextWave stock traded at artificially inflated prices between March 30th, 2007 and August 7th, 2008 reaching as high as $10.10 per share in June 2007, so the lawsuit. Then according to the lawsuit on August 7th, 2008, after the market closed, Nextwave Wireless Inc. issued its second quarter 2008 financial results, announcing it only had $71.1 million in cash and similar instruments available as of June 30th, 2008 and, unless it raised money, its cash would run out at the beginning of October 2008 and as a result Nextwave Wireless Inc. was seeking financing that would give Nextwave Wireless Inc. enough money to operate through June 2009. The shareholder alleges that on this news, NextWave Wireless Inc.’s stock fell $1.90 per share to close at $0.95 per share, a one-day decline of 67% and the true facts, which were known by the defendants but concealed from the investing public.

class action     investor     lawsuit     Nextwave     shareholder     stock market     stocks     wave