Verizon sues U.S. government

Verizon Wireless filed with the Court of Federal Claims on Tuesday to sue the U.S. government. The wireless services provider asked the court to cancel the $8.7 billion agreement it had with the government to buy wireless spectrum. Verizon thinks it might be owed as much as $100 million in interest as well.

Verizon Wireless was among the carriers that believed they bought spectrum licenses from then-bankrupt Nextwave Communications. But the spectrum has been tangled in court disputes for several years. By canceling the deal, Verizon Wireless says, it will be able to free up the cash it has been saving to pay for the spectrum.