Defense Says Del. Court Misled On Straight Path Merger Suit

By Jeff Montgomery (May 11, 2022, 9:42 PM EDT) -- Attorneys for IDT Corp. and its controller said Wednesday that Delaware's Chancery Court was misled about counsel's handling of nonpublic material for an investment fund that's seeking to lead a suit alleging Straight Path Communications shareholders were shortchanged by $600 million in a $3 billion sale of Straight Path to Verizon Communications Inc. in 2017.

During a daylong evidentiary hearing before Vice Chancellor Sam Glasscock III via video conference, IDT counsel Jason Cyrulnik of Cyrulnik Fattaruso LLP said documents from a Straight Path special committee were relayed to counsel for The Arbitrage Fund in July 2017 — the same month that The Arbitrage...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!