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

|About: Verizon Communications (VZ)|By:, SA News Editor

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.