US Bank Opens Trial Over Verizon’s $9.9B Yellow Pages Split

Law360, Dallas (October 15, 2012, 8:10 PM EDT) -- U.S. Bank NA on Monday opened its Texas federal court trial challenging Verizon Communications Inc.’s $9.9 billion spinoff of its Yellow Pages division, saying it would show Verizon’s top executives defrauded investors by artificially inflating the company’s value to disguise a debt load that bankrupted the company.

Verizon said U.S. Bank can't prove it overvalued shares in its 2006 spinoff of Idearc Inc., which filed for bankruptcy in 2009 and is now called SuperMedia Inc. It said the bank's valuation theory is premised on a flawed...
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