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Sprint (NYSE:S) must face a $300M lawsuit from New York Attorney General Eric Schneiderman for...

Jul. 02, 2013 3:06 AM ETSprint Corporation (S) StockSBy: Yigal Grayeff, SA News Editor
Sprint (NYSE:S) must face a $300M lawsuit from New York Attorney General Eric Schneiderman for allegedly failing to collect and pay sales tax on cellular plans after a NY Supreme Court judge denied the carrier's motion to dismiss the case. Judge Peter Sherwood wrote that the complaint "satisfactorily alleges that Sprint knowingly submitted false monthly tax statements." The fraud cost state and local governments over $100M, Schneiderman says.

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