Sprint and T-Mobile face another legal challenge to merger

The long-time effort by Sprint and T-Mobile to merge has hit another roadblock. New York and California’s state attorneys general filed a lawsuit seeking to block the proposed merger Tuesday, along with seven other states and the District of Columbia. The lawsuit was announced by New York Attorney General Letitia James and California Attorney General Xavier Becerra. “When it comes to corporate power, bigger isn’t always better,” said Attorney General Letitia James. Both companies’ stocks fell on the news of the lawsuit. Shares of Sprint (S) dropped more than 6%, while T-Mobile (TMUS) fell 2%. The companies did not respond…

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