Subsequent Events

9 Months Ended

Sep. 30, 2014

Subsequent Events [Abstract]

Subsequent Events

15. Subsequent Events

The Company evaluates subsequent events occurring between the most recent balance sheet date and the date that the financial statements are available to be issued in order to determine whether the subsequent events are to be recorded and/or disclosed in the Company’s financial statements and footnotes. The financial statements are considered to be available to be issued at the time that they are filed with the SEC. Except as described below, there were no other subsequent events or transactions that required recognition or disclosure in the consolidated financial statements.

Legal Settlements

As further described in Note 11, the Company pursued restitution from the TelWorx Parties and two other parties used by the TelWorx Parties in the TelWorx acquisition. Settlement was reached with the TelWorx Parties in the quarter ended March 31, 2013 and one of the other parties used by the TelWorx Parties in the quarter ended September 30, 2014.

On October 10, 2014 the Company entered into a legal settlement with the remaining other party used by the TelWorx Parties in the TelWorx acquisition for $0.8 million in cash. The settlement will be recorded as income in the quarter ended December 31, 2014, consistent with accounting for legal settlements.