By: Judy Greenwald
A Delaware court has ruled that Verizon Communications Inc. can recover $24 million in defense costs in connection with litigation surrounding a 2006 spinoff.
The complex litigation involves the 2006 spinoff by Verizon Communications Inc. of a telecommunications portfolio to Charlotte, North Carolina-based FairPoint Communications Inc., according to Tuesday’s ruling by the Delaware Superior Court in Verizon Communications Inc. v National Union fire Insurance Co. of Pittsburgh, PA et al.
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