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Published on 4/14/2009 in the Prospect News Special Situations Daily.

Leap Wireless investor Owl Creek sells more than 1.23 million shares

By Lisa Kerner

Charlotte, N.C., April 14 - A group of Leap Wireless International, Inc. investors led by Owl Creek I, LP sold 1,230,740 shares of the company's stock between March 1 and April 13 at prices from $27.11 to $36.57 per share, according to a schedule 13D/A filed with the Securities and Exchange Commission.

Between Jan. 1 and Feb. 25, Owl Creek sold 1,369,400 shares of Leap Wireless, a prior SEC filing said.

The investors beneficially own 4,008,179 shares, or 5.7%, of the San Diego-based wireless services provider.


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