> A Baby Bell utilities company lost a court case in the 60s
No it didn't; the Baby Bells were created by the 1984 breakup of AT&T.
EDIT: As a sibling post provides details, the error was calling it a "Baby Bell"; the essence of the story, at least the lawsuit itself, is true, but Southern Bell was a pre-breakup Bell Operating Company (an AT&T subsidiary), not a post-breakup Baby Bell. [Errors like pointing to a Baby Bell 20ish years before they existed are often, but as this incident shows not always, signs of folk mythology.]