Site Map Icon
RSS Feed icon
 
 
 
Member Login
Username:

Password:


Not registered yet?
Click Here to sign-up

Forgot Your Login?
Events Calendar image
Events Calendar
Message Board image
Message Board
Classified Ads image
Classified Ads
Downloads image
Downloads
News Feeds image
News Feeds
Photo Gallery image
Photo Gallery
August 23, 2014
<< August 2014 >>
S M T W T F S
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31
Weather Report
UnionActive Newswire
 
Join the Newswire!
Updated: Aug. 23 (12:03)

Teamsters Local 391 Bus Driver's Fiery Speech Outside Governor McCrory's Office
Teamsters Local 391
Senate Committee Meeting
CWA/NCPSO Local 2201
Bargaining team cadidate statements
Local 328, Oregon AFSCME Council 75
Entertainment Electrician examination Promotion
IATSE Local 33
Fairness? Objectivity? Truth? All Victims of Media Standards
Colorado State Lodge F.O.P.
Simplot Ends Strike
Teamsters Local 120
 
     
Action Center
Dallas federal judge rules for Verizon in $9 billion lawsuit
Posted On: Jan 26, 2013

Creditors in the 2010 bankruptcy case of Dallas-based Idearc Inc. seeking to recoup more than $9 billion in losses were dealt a near certain death blow Tuesday when a federal judge in Dallas ruled they have almost no chance of winning their case. U.S. District Judge Joe Fish, in a 66-page written decision, said that Idearc, a publisher of the U.S. Yellow Pages for small- and medium-size businesses, was valued at more than $12 billion when global Verizon Communications spun off the Dallas business directory in 2006.

The judge’s $12 billion valuation of Idearc, now known as SuperMedia Inc., means that the company was solvent when it was spun off and that Verizon did not mislead investors or creditors, which is the basis of the lawsuit, according to legal experts. Idearc’s value plummeted in the years following the 2006 spinoff, leading to the company filing for Chapter 11 bankruptcy protection in 2010. As part of the resolution of the bankruptcy, the trustee, led by U.S. Bank National, sued Verizon, claiming the telecommunications giant defrauded shareholders. Fish gave lawyers for the creditors until Feb. 8 to provide additional evidence or arguments or face having the lawsuit dismissed.
Organize Today
Learn more about organizing your workplace!

Click Here
Contact Elected Officials!
Newsletter Sign-up
Sign-up for newsletter & email updates
Blog Topics
General
Blog Updates
Important Links
Union Built PC
Motor Vehicle Certification Program
DotComPrinting.inc
Union Plus
 
 
Communications Workers of America Local 2336
Copyright © 2014, All Rights Reserved.
Powered By UnionActive™
Visit Unions-America.com!

Top of Page image