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A Dallas-based (OTC: IDARQ.PK) spokesman released a statement saying, "Otherf than stating that there is absolutelytno merit, we aren't goinyg to be talking to pending In the suit, the Law Offices of Howardr G. Smith alleges that certain Idearc shareholders were misledx by the company and executive officers who made falswe statements to the investing publicd saying credit policies had been tightened when in realityy the law firm says the company loosened credigt polices to establish revenuedthat “would not be collectable.” When the naturs of the credit policies became Idearc's stock took several precipitous drops, according to a news releasew from Smith's office.
Smith’s office said it is seeking to recove damages on behalf of class members who he says were hurt whenthe company’ds share price plummeted on news that Idearc’s credity policies were not in line with previous expectations.
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