Reuters logo
BRIEF-IDT Corp, Straight Path and others enters into settlement agreement
October 26, 2017 / 9:55 PM / 24 days ago

BRIEF-IDT Corp, Straight Path and others enters into settlement agreement

Oct 26 (Reuters) - Idt Corp

* IDT Corp says ‍on Oct 24, co, straight path, straight path’s unit, among others entered into settlement agreement and release​ - SEC filing

* IDT Corp - ‍consistent with previously announced term sheet, in exchange for mutual release, registrant paid SPCI an aggregate of $16 million in cash​

* IDT - ‍consistent with announced term sheet, in exchange for mutual release, spci transferred to co majority ownership interest in straight path’s unit

* IDT Corp - ‍settlement agreement allocates $10 million of payment and retained interest right to settlement of claims and mutual release​

* IDT Corp - ‍settlement agreement allocates $6 million to transfer of IP interest​ Source text : (bit.ly/2lhdeMA) Further company coverage:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below