Clearwire Corporation (NASDAQ:CLWR) is facing challenges in connection with its agreement with Sprint Nextel Corporation (NYSE:S).

One of the company’s shareholders hired the services of one of the leading proxy solicitation and corporate/communications firm with expertise in proxy fights and tender/exchange offers for corporate control, according to the report from Ina Fried from AllThingsD.

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Crest Financial, an investment management firm that owns 3.9 percent stake of Clearwire Corporation (NASDAQ:CLWR) hired D.F. King Co to launch a proxy-fight against the company. The shareholder also demanded the telecommunications company to provide a list of its shareholders.

Aside from the proxy fight, Crest Financial also filed a lawsuit against Clearwire Corporation (NASDAQ:CLWR) to oppose Sprint Nextel Corporation (NYSE:S)’s bid to acquire the remaining interest in the company it does not already own for $2.97 per share. The investment management firm argued that Clearwire violated its fiduciary duties for accepting Sprint’s proposal.

In a statement, Dave Schumacher, general counsel of Crest Financial said; “Crest Financial believes that Clearwire’s shareholders will reject Sprint’s unfair offer for Clearwire. Crest is determined to do whatever it can to stop Sprint’s efforts to extract for itself the value of Clearwire’s trove of wireless spectrum and to harm minority shareholders and the public interest.”

Last month, Clearwire Corporation (NASDAQ:CLWR) announced that it would take the $80 million financing from Sprint Nextel Corporation (NYSE:S) under the terms of its agreement, which could hinder the bid of DISH Network Corp. (NASDAQ:DISH) to purchase the company at higher price of $3.30 per share.

Despite accepting the financing from Sprint, Clearwire indicated that it would continue its discussion with Dish Network regarding its offer to fulfill its fiduciary duties to shareholders. According to the company, it will pursue a course of action that it believes in the best interest on Clearwire’s non-Sprint Class A shareholders.

Analysts at Bank of America Merrill Lynch think DISH Network Corp. (NASDAQ:DISH)’s counter proposal to buy out the shares of Clearwire Corporation (NASDAQ:CLWR) is a guerilla tactic for the company, citing that it has plans to form a partnership with T-Mobile or to engage Sprint in a sharing negotiation. Dish Network is looking for a partner to build its AWS spectrum.