October 15, 2012
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.
October 03, 2012
A Texas federal judge on Tuesday refused to limit Verizon Communications Inc.'s evidence and expert testimony for the trial later this month in U.S. Bank NA's case challenging Verizon's $9.9 billion spinoff of Idearc Inc., which later filed for bankruptcy.
August 07, 2012
A Texas federal judge on Monday denied Verizon Communications Inc.'s bid to shake four fraudulent transfer claims brought by U.S. Bank NA related to 2009's $9.9 billion spinoff of Idearc Inc., which later filed for bankruptcy under the weight of Verizon's flagging Yellow Pages business.
August 01, 2012
A Texas federal judge on Tuesday partially granted a motion to dismiss a suit against Verizon Communications Inc. accusing it of defrauding creditors by spinning off Idearc Inc. and driving the company into bankruptcy, preserving fraudulent transfer and promoter liability claims.
September 20, 2011
A Texas federal judge on Monday refused to dismiss claims that Verizon Communications Inc. defrauded creditors of spinoff company Idearc Inc. by saddling the company with billions of dollars of debt and driving it into bankruptcy.