FairPoint creditors sue Verizon

A litigation trust comprised of former FairPoint Communications creditors has filed a lawsuit against Verizon, claiming the company sold FairPoint "inferior assets that had no future."

In a $2 billion fraudulent transfer lawsuit filed in North Carolina, the trust alleges FairPoint's $2.3 billion purchase of Verizon's landlines in northern New England in 2008 led it to declare bankruptcy in 2009, according to The Associated Press. The complaint says Verizon lured FairPoint into ...