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Verizon (VZ) has been sued in New York State Supreme Court for $2.85B over the collapse of...

Verizon (VZ) has been sued in New York State Supreme Court for $2.85B over the collapse of SuperMedia (SPMD), the directory company that the telecom operator spun off in 2006. The lawsuit contends that SuperMedia, which was known as Idearc, was so indebted that it was insolvent and bound to fail. However, a federal judge in Texas has already said that Verizon would probably win a lawsuit over Idearc's spin-off.
Comments (2)
  • rgperrin
    , contributor
    Comments (614) | Send Message
     
    Everything that Verizon has spun-off has failed (Idearc and Fair Point Communciations) or is failing (Frontier Communications). The cue is that Verizon chose to spin-them off in the first place. I'm sorry for all the trusting investors who purchased shares of these sinking ships.
    31 Mar 2013, 03:25 PM Reply Like
  • ebeuu
    , contributor
    Comments (339) | Send Message
     
    Yes, wondered what became of Frontier.
    31 Mar 2013, 06:53 PM Reply Like
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