- On January 22, 2013, following a 10-day bench trial, the U.S. District Court for the Northern District of Texas agreed with Verizon that its former subsidiary, Idearc, Inc., was not insolvent on November 17, 2006, the day Verizon spun it off to become a separate entity. The plaintiff – the litigation trustee of the Idearc bankruptcy estate – brought this case claiming that Verizon spun Idearc off to bury its unprofitable Yellow Pages business unit and thereby take the losses of that unit off Verizon’s books.
USA, Texas, Insolvency & Restructuring, Litigation, Telecoms, ArentFox Schiff, Verizon Communications, US District Court for Northern District of Texas
- On September 16, 2011, the U.S. Department of Justice amended its complaint to enjoin the AT&T/T-Mobile merger to include the states of New York, California, Illinois, Pennsylvania, Massachusetts, Washington, and Ohio as additional plaintiffs. United States v. AT&T Inc., No. 11-cv-1560 (D.D.C.).
- On September 19, 2011, the United Stated District Court for the Northern District of Texas largely denied the motion to dismiss of Verizon Communications, and related entities, against claims that they defrauded investors and creditors via spinoff company Idearc.
USA, Competition & Antitrust, Corporate Finance/M&A, Insolvency & Restructuring, Litigation, Telecoms, ArentFox Schiff, Punitive damages, Bankruptcy, Injunction, Fraud, Dividends, Fiduciary, Debt, US Department of Justice, Verizon Communications, T-Mobile, US District Court for Northern District of Texas