NorthPoint Near ‘Disaster’

NorthPoint Communications Group Inc. is on the “brink of disaster” after Verizon Communications called off an agreement in November to acquire the provider of high-speed Internet connections, a NorthPoint attorney said. Lawyer Douglas Sullivan urged San Francisco County Superior Court Judge David Garcia to let NorthPoint proceed with a lawsuit that seeks more than $1 billion in damages from New York-based Verizon, or a court order requiring the merger be completed. Verizon has filed a lawsuit in Delaware asking for approval to call off the merger. Garcia didn’t indicate when he would reach a decision. NorthPoint shares rose 5 cents to close at 42 cents on Nasdaq.