Verizon wins federal court verdict over yellow-pages spinoff

06/20/2013 | Wall Street Journal, The

A federal judge ruled in favor of Verizon Communications on Tuesday over allegations that the telecom had defrauded creditors of Idearc in connection with Verizon spinning off its yellow-pages division to that company in 2006. The creditors had requested $9 billion in damages. In his decision, Judge A. Joe Fish noted that the plaintiffs had not "presented specific direct evidence of the defendants' fraudulent intent, nor has it pointed to any such evidence that it may yet present."

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