U.S. Bank v. Verizon

Mike and Kara worked on behalf of Verizon.

United States District Court, Northern District of Texas (Dallas)

Plaintiffs claimed Verizon’s spin-off of its Idearc yellow pages division was fraudulent because Idearc had no value at the time of the transaction. Verizon presented evidence that prior to and after the spin-off, Idearc was solvent. Verizon also showed that other sophisticated market participants valued Idearc at a higher number than Verizon’s own internal valuation. In a bench trial the judge agreed with Verizon and ruled that Idearc was solvent at the time of the transaction and had a value of at least $12 billion.

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