Wow! U.S. Bank is suing Verizon for spinning-off their yellow pages unit, called “Idearc Media” after the spinoff, with too high a debt load. Idearc Media was the operator of Superpages.com, a major internet yellow pages site. U.S. Bank is the trustee for Idearc.
For anyone who hasn’t followed the string of companies involved, here’s the super-brief overview: (more…)