United States

LICT announces PTPMS Communications' filing for legal action against Straight Path Communications

Tuesday, 10 Oct 2017 05:04pm EDT 

Oct 10 (Reuters) - LICT Corp :LICT Corp - announces filing of legal action by PTPMS Communications against Straight Path Communications to obtain amount related to wireless licenses​.LICT - ‍case is based on proposed transfer by straight path to verizon of straight path's wireless licenses through acquisition by Verizon for $3.1 billion​.LICT - "‍PTPMS is seeking ruling that straight path must pay co value of that 20% interest due to Verizon transaction".LICT Corp - ‍PTPMS is also requesting a trial to determine total value of its 20% interest in licenses​.LICT Corp - co holds a 49% interest in PTPMS Communications LLC​.