SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
IDT CORPORATION
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(Name of Issuer)
Class B Common Stock, par value $.01 per share
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(Title of Class of Securities)
448947309
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(CUSIP Number)
January 10, 2003
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
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CUSIP No. 448947309 13G
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Greenlight Capital, L.L.C.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
3,793,400
NUMBER OF ------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH ------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH
3,793,400
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8 SHARED DISPOSITIVE POWER
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,793,400
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.0% **
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12 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT
**SEE ITEM 4(b).
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CUSIP No. 448947309 13G
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
David Einhorn
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S. Citizen
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5 SOLE VOTING POWER
3,793,400
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NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY ------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 3,793,400
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8 SHARED DISPOSITIVE POWER
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,793,400
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.0% **
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12 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT
**SEE ITEM 4(b).
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SCHEDULE 13G
This Schedule 13G (the "Schedule 13G") is being filed on behalf of
Greenlight Capital, L.L.C., a Delaware limited liability company ("Greenlight"),
and Mr. David Einhorn, principal of Greenlight, relating to shares of Class B
Common Stock of IDT Corporation, a Delaware corporation (the "Issuer").
This Schedule 13G relates to shares of Class B Common Stock of the
Issuer purchased by Greenlight for the account of (i) Greenlight Capital, L.P.
("Greenlight Fund"), of which Greenlight is the general partner, (ii) Greenlight
Capital Qualified, L.P. ("Greenlight Qualified"), of which Greenlight is the
general partner and (iii) Greenlight Capital Offshore, Ltd. ("Greenlight
Offshore"), to which Greenlight acts as investment advisor.
ITEM 1(a) NAME OF ISSUER.
IDT Corporation
ITEM 1(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES.
190 Main Street
Hackensack, New Jersey 07601
ITEM 2(a) NAME OF PERSON FILING.
Greenlight and David Einhorn
ITEM 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE, OR, IF NONE, RESIDENCE.
420 Lexington Ave., Suite 1740
New York, New York 10170
ITEM 2(c) CITIZENSHIP OR PLACE OF ORGANIZATION.
Greenlight is a limited liability company organized under the
laws of the State of Delaware. David Einhorn is the principal
of Greenlight and a United States citizen.
ITEM 2(d) TITLE OF CLASS OF SECURITIES.
Class B Common Stock, par value $0.01 per share (the "Class B
Common Stock").
ITEM 2(e) CUSIP NUMBER.
448947309
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ITEM 3 REPORTING PERSON.
Inapplicable.
ITEM 4 OWNERSHIP.
(a) Greenlight and Mr. Einhorn are the beneficial owners
of 3,793,400 shares of Class B Common Stock.
(b) Greenlight and Mr. Einhorn are the beneficial owners
of 7.0% of the outstanding shares of Class B Common
Stock. This percentage is determined by dividing
3,793,400 by 54,445,566, the number of shares of
Class B Common Stock issued and outstanding as of
March 13, 2003, as reported in the Issuer's quarterly
report on Form 10-Q filed March 14, 2003.
(c) Greenlight has the sole power to vote and dispose of
the 3,793,400 shares of Class B Common Stock
beneficially owned by it. As the principal of
Greenlight, Mr. Einhorn may direct the vote and
disposition of the 3,793,400 shares of Class B Common
Stock beneficially owned by Greenlight.
ITEM 5 OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
Inapplicable.
ITEM 6 OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON.
Inapplicable.
ITEM 7 IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
COMPANY.
Inapplicable.
ITEM 8 IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Inapplicable.
ITEM 9 NOTICE OF DISSOLUTION OF GROUP.
Inapplicable.
ITEM 10 CERTIFICATION.
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were not acquired
and are not held for the purpose of or with the effect of
changing or influencing the control of the issuer of the
securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purpose or effect.
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EXHIBITS EXHIBIT 1
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Joint Filing Agreement dated March 19, 2003, between
Greenlight and David Einhorn.
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: March 19, 2003
Greenlight Capital, L.L.C.
By: /s/ DAVID EINHORN
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David Einhorn, Managing Member
/s/ DAVID EINHORN
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David Einhorn
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