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Other Operating Gain, Net
 3 Months Ended
Oct. 31, 2024
Other Income and Expenses [Abstract]  
Other Operating Gain, Net

Note 10—Other Operating Gain, Net

 

The following table summarizes the other operating gain, net by business segment:

 

   2024   2023 
   Three Months Ended
October 31,		 
   2024   2023 
   (in thousands) 
Corporate—Straight Path Communications Inc. class action legal fees  $—   $(212)
Corporate—Straight Path Communications Inc. class action insurance claims   —    684 
Corporate—other   —    12 
           
Total  $—   $484 

 

 

Straight Path Communications Inc. Class Action

 

As discussed in Note 16, the Company (as well as other defendants) was named in a class action on behalf of the stockholders of the Company’s former subsidiary, Straight Path Communications Inc. (“Straight Path”). The Company incurred legal fees and recorded offsetting gains from insurance claims related to this action in the three months ended October 31, 2023. In fiscal 2024, the Company received the final payment from its insurance policy for these claims. On October 3, 2023, the Court of Chancery of the State of Delaware dismissed all claims against the Company, and found that, contrary to the plaintiffs’ allegations, the class suffered no damages. The plaintiffs will have 30 days from entry of the final order to file an appeal.