{"id":915885,"date":"2025-12-03T14:30:50","date_gmt":"2025-12-03T19:30:50","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/delaware-supreme-court-affirms-court-of-chancerys-dismissal-of-claims-against-idt-related-to-straight-path-communications-sale-to-verizon\/"},"modified":"2025-12-03T14:30:50","modified_gmt":"2025-12-03T19:30:50","slug":"delaware-supreme-court-affirms-court-of-chancerys-dismissal-of-claims-against-idt-related-to-straight-path-communications-sale-to-verizon","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/delaware-supreme-court-affirms-court-of-chancerys-dismissal-of-claims-against-idt-related-to-straight-path-communications-sale-to-verizon\/","title":{"rendered":"Delaware Supreme Court Affirms Court of Chancery\u2019s Dismissal of Claims Against IDT Related to Straight Path Communications Sale to Verizon"},"content":{"rendered":"
\n

\n NEWARK, NJ, Dec. 03, 2025 (GLOBE NEWSWIRE) — <\/b>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\u2019s post-trial decision dismissing all claims against IDT and finding no harm to Straight Path Communications Inc. (\u201cStraight Path\u201d) shareholders.<\/p>\n

\u201cWe are very pleased by today\u2019s 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\u2019s claims, Straight Path\u2019s stockholders did not incur any damages whatsoever,\u201d said Shmuel Jonas, IDT\u2019s CEO. \u201cWe have said all along that this class action suit was without merit, and today\u2019s decision upholding the Court of Chancery\u2019s decision vindicates IDT\u2019s position.\u201d<\/p>\n

Straight Path was spun off from IDT in 2013 and, in 2017, was sold to Verizon Communications for $3.1 billion. The Court of Chancery\u2019s ruling came in a class action suit filed in 2017 by plaintiffs on behalf of the former stockholders of the Company\u2019s former subsidiary, Straight Path.<\/p>\n

\n All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words \u201cbelieve,\u201d \u201canticipate,\u201d \u201cexpect,\u201d \u201cplan,\u201d \u201cintend,\u201d \u201cestimate,\u201d \u201ctarget\u201d and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.<\/i>\n <\/p>\n

\n
\n ABOUT IDT CORPORATION<\/u>
\n <\/b>\n <\/p>\n

\n
\n IDT Corporation<\/u>
\n <\/a> (NYSE: IDT) is a global provider of fintech and communications solutions through a portfolio of synergistic businesses:\u00a0National Retail Solutions<\/u><\/a>\u00a0(NRS), through its point-of-sale (POS) platform, enables independent retailers to operate more effectively while providing advertisers and marketers with unprecedented reach into underserved consumer markets; BOSS Money<\/u><\/a> facilitates innovative international remittances and fintech payments solutions; net2phone<\/u><\/a>\u00a0provides enterprises and organizations with intelligently integrated cloud communications and contact center services across channels and devices;\u00a0IDT Digital Payments<\/u><\/a>\u00a0and the\u00a0BOSS Revolution<\/u><\/a>\u00a0calling service make sharing prepaid products and services and speaking with friends and family around the world convenient and reliable; and,\u00a0IDT Global<\/u><\/a>\u00a0and\u00a0IDT Express\u00a0<\/u><\/a>enable communications services to provision and manage international voice and SMS messaging.<\/p>\n

\n
\n Contact<\/u>
\n <\/b>
\n :<\/b>
\n
Bill Ulrey
IDT Investor Relations
Phone: (973) 438-3838
E-mail: invest@idt.net<\/a><\/p>\n

# # #<\/p>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

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\u2019s post-trial decision dismissing all claims against IDT and finding no harm to Straight Path Communications Inc. (\u201cStraight Path\u201d) shareholders. \u201cWe are very pleased by today\u2019s 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\u2019s claims, Straight Path\u2019s stockholders did not incur any damages whatsoever,\u201d said Shmuel Jonas, IDT\u2019s CEO. \u201cWe have said all along that this class … <\/p>\n

Continue reading “Delaware Supreme Court Affirms Court of Chancery\u2019s Dismissal of Claims Against IDT Related to Straight Path Communications Sale to Verizon”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-915885","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nDelaware Supreme Court Affirms Court of Chancery\u2019s Dismissal of Claims Against IDT Related to Straight Path Communications Sale to Verizon - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/delaware-supreme-court-affirms-court-of-chancerys-dismissal-of-claims-against-idt-related-to-straight-path-communications-sale-to-verizon\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Delaware Supreme Court Affirms Court of Chancery\u2019s Dismissal of Claims Against IDT Related to Straight Path Communications Sale to Verizon - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"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\u2019s post-trial decision dismissing all claims against IDT and finding no harm to Straight Path Communications Inc. (\u201cStraight Path\u201d) shareholders. \u201cWe are very pleased by today\u2019s 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\u2019s claims, Straight Path\u2019s stockholders did not incur any damages whatsoever,\u201d said Shmuel Jonas, IDT\u2019s CEO. \u201cWe have said all along that this class … Continue reading "Delaware Supreme Court Affirms Court of Chancery\u2019s Dismissal of Claims Against IDT Related to Straight Path Communications Sale to Verizon"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/delaware-supreme-court-affirms-court-of-chancerys-dismissal-of-claims-against-idt-related-to-straight-path-communications-sale-to-verizon\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-12-03T19:30:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTU5NjM3MyM3MzA0OTM2IzUwMDA4MDc1NA==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/delaware-supreme-court-affirms-court-of-chancerys-dismissal-of-claims-against-idt-related-to-straight-path-communications-sale-to-verizon\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/delaware-supreme-court-affirms-court-of-chancerys-dismissal-of-claims-against-idt-related-to-straight-path-communications-sale-to-verizon\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Delaware Supreme Court Affirms Court of Chancery\u2019s Dismissal of Claims Against IDT Related to Straight Path Communications Sale to Verizon\",\"datePublished\":\"2025-12-03T19:30:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/delaware-supreme-court-affirms-court-of-chancerys-dismissal-of-claims-against-idt-related-to-straight-path-communications-sale-to-verizon\\\/\"},\"wordCount\":463,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/delaware-supreme-court-affirms-court-of-chancerys-dismissal-of-claims-against-idt-related-to-straight-path-communications-sale-to-verizon\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTU5NjM3MyM3MzA0OTM2IzUwMDA4MDc1NA==\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/delaware-supreme-court-affirms-court-of-chancerys-dismissal-of-claims-against-idt-related-to-straight-path-communications-sale-to-verizon\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/delaware-supreme-court-affirms-court-of-chancerys-dismissal-of-claims-against-idt-related-to-straight-path-communications-sale-to-verizon\\\/\",\"name\":\"Delaware Supreme Court Affirms Court of Chancery\u2019s Dismissal of Claims Against IDT Related to Straight Path Communications Sale to Verizon - 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