Oh I'm sure that's their answer but surely they have some insight as to how close it is. It's been on that since the m8 update released. For what we pay for their service we deserve better communication.
HTC is the one that makes the update. Insight? The website link I gave you is the answer straight form the horses mouth. You're not going to get any more accurate statement from anywhere else
HTC submitted the update to Verizon for approval several weeks ago, but Verizon kicked it back to HTC stating there were "problems".
HTC had to start over and is in the process of "re-spinning" the SW and will re-submit it to Verizon for approval as soon as they can.
That's what the hold up is.
Also, Verizon does not have a good relationship with HTC. They screw with HTC as much as they possibly can. This has been the case for years and is well documented on-line.
Please see mk7se's answer which covers the important part the other party rather snarkily answering has overlooked. Most importantly, Verizon is not transparent about this - they fail to communicate this to their customers and even if you call and ask, they have no clue whatsoever. They should be much more communicative and forthright.
According to Mo Versi (who is VP of product management for HTC) on Twitter, he states on March 24th, they still didn't have final approval from Verizon.
So the hold up is, of course, Verizon.
And of course they won't tell you this because they don't want to take the blame, once again, for hanging HTC customers out to dry as long as they can.
HTC tweeted on May 8th that it would be out soon to our devices.
However, I do understand that they are tied up with a "Cramming" lawsuit, and have to run to their sock drawer for the $90 million they have to pay in settlement. So that's probably why we, who unknowingly gave them that money, don't have our Lollipop update.