IDT Corporation Wins Lawsuit as Delaware Supreme Court Dismisses All Claims Against Straight Path
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 03 2025
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Source: Globenewswire
- Legal Victory: The Delaware Supreme Court upheld the Chancery Court's ruling, dismissing all claims against IDT and confirming that Straight Path shareholders incurred no damages, thereby providing robust support for IDT's reputation and financial stability.
- Shareholder Protection: The court's decision not only safeguards IDT's legal rights but also ensures that the interests of former Straight Path shareholders remain intact, further bolstering investor confidence in IDT.
- Historical Context: Straight Path was spun off from IDT in 2013 and sold to Verizon for $3.1 billion in 2017; this lawsuit stemmed from former shareholders' concerns about the sale process, and the court's ruling clears obstacles for IDT's historical transactions.
- Future Outlook: IDT's CEO stated that this victory validates the meritless nature of the lawsuit, allowing the company to focus on its growth strategy in fintech and communications services, enhancing its competitive position in the market.
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Analyst Views on IDT
About IDT
IDT Corporation is a global provider of fintech and communications solutions. The Company's segments include National Retail Solutions (NRS), Fintech, net2phone and Traditional Communications. The NRS segment is an operator of a nationwide point-of-sale network providing independent retailers with store management software, electronic payment processing, and other ancillary merchant services. The Fintech segment is comprised of BOSS Money, a provider of international money remittance and related value/payment transfer services; and other, significantly smaller, financial services businesses, and IDT Financial Services Limited, the Company’s Gibraltar-based bank. The net2phone segment is comprised of net2phone's integrated cloud communications and contact center services. The Traditional Communications segment includes IDT Digital Payments, BOSS Revolution and IDT Global. IDT Global, through its IDT Express branded self-provisioning portal, also serves small and medium businesses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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