NorthPoint Communications

(NPNT)

fell 57.8% in preopen

Island

trading, the day after

Verizon

(VZ) - Get Report

pulled out of an agreement to buy a controlling stake in the Internet access company. NorthPoint said it would explore "legal remedies" against the telephone company, claiming Verizon was not entitled to back out. Verizon reconsidered the deal after NorthPoint earlier this month restated its third-quarter results and said its customers were having trouble paying.