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Maybe Fairpoints management was deceived. Example: Fred buys a house from Tom. When Fred examines the house he finds that all of the appliances are new. Unless Fred took photographs of the appliances or recorded their serial numbers he would have a problem if when he closed he discovered that Tom replaced the new appliances with junk.
This deal may have gone the same way. While the closing on the deal was delayed Verizon replaced key new hardware with obsolete or inferior hardware. Verizon probably overstated the quality of the outside plant as well. Unless Fairpoint had a team of technicians go to each POP and record the model and serial numbers of the equipment Verizon could have switched the hardware.