Judge Dents Claims That Verizon Overvalued $10B Spinoff

Law360, New York (January 22, 2013, 10:35 PM EST) -- A Texas federal judge said Tuesday that Verizon Communications Inc.’s former Idearc Inc. unit was worth at least $12 billion during its $9.9 billion spinoff before it went bankrupt, denting U.S. Bank NA’s arguments that the telecom giant inflated Idearc's value in the sale.

U.S. District Judge A. Joe Fish arrived at the number based on evidence shown during a 10-day bench trial that ended in October over the value of the former Verizon print and electronic directories business on the day of its November 2006...
To view the full article, register now.