­A lawsuit has been filed to block the planned merger between T-Mobile USA and MetroPCS, claiming that the deal undervalues MetroPCS shares.

The lawsuit has been filed by MetroPCS shareholders who allege that the deal was driven through by the company management who seek to personally benefit from their own stake in the company.

"The process leading to the proposed acquisition was tainted by conflicts, tilted towards T-Mobile and driven entirely by the board and company management, who together control 15.4 percent of PCS' outstanding stock and seek liquidity for their illiquid holdings," the complaints claims.

T-Mobile is offering a package which values MetroPCS shares at US$12.48, while the lawsuit claims the company is worth at least US$18 per share, citing analyst reports and that the shareprice was over US$18 a year ago.

The lawsuit also complains that the deal was structured to omit any other bidder from the transaction, although that is actually commonplace in agreed takeover/mergers anyway.

Following the merger, Deutsche Telekom will own 74% of the company, with 26% listed on the New York stock-exchange. MetroPCS shareholders would also receive US$1.5 billion in cash.