Sprint Ordered To Pay $21M Over Access Fee Deal

Law360, New York (March 31, 2011, 4:04 PM EDT) -- Sprint Communications Co. must pay its former subsidiaries $21.2 million for backing out of a deal on telephone access fees, a Virginia federal judge ruled Wednesday.

Sprint's “post hoc rationalizations” do not let it escape the obligations of 19 contracts it negotiated with local telephone companies that were once part of its corporate family, Judge Robert E. Payne of the U.S. District Court for the Eastern District of Virginia said.

The local telephone companies, which Sprint spun off to the company now called CenturyLink Inc., sued...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.