Verizon Fights $9.5 Billion Creditor Suit on Idearc Spinoff

Verizon Fights $9.5 Billion Creditor Suit on Idearc Spinoff

Andrew Harrer/Bloomberg

Creditors contend Verizon, knowing the directory business was in decline, engineered a deal that transferred $2.4 billion in cash out of the subsidiary and saddled it with $9 billion in debt.