Delaware Supreme Court Affirms Court of Chancery’s Dismissal of Claims Against IDT Related to Straight Path Communications Sale to Verizon
IDT Corporation Class B (IDT)
US:NYSE Investor Relations:
ir.idt.com/investor-relations
Company Research
Source: GlobeNewswire
NEWARK, NJ, Dec. 03, 2025 (GLOBE NEWSWIRE) -- IDT Corporation (NYSE: IDT), a global provider of fintech and communications services, commented on the decision issued today by the Delaware Supreme Court affirming the Court of Chancery’s post-trial decision dismissing all claims against IDT and finding no harm to Straight Path Communications Inc. (“Straight Path”) shareholders. “We are very pleased by today’s decision from the Delaware Supreme Court, which puts to rest this lawsuit by affirming the post-trial decision of the Court of Chancery. That decision dismissed all claims against IDT and found that contrary to the plaintiff’s claims, Straight Path’s stockholders did not incur any damages whatsoever,” said Shmuel Jonas, IDT’s CEO. “We have said all along that this class action suit was without merit, and today’s decision upholding the Court of Chancery’s decision vindicates IDT’s position.” Straight Path was spun off from IDT in 2013 and, in 2017, was sold to Verizon Communicat
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