Vonage Guilty Again
Like Verizon Communications Inc. (NYSE: VZ) earlier this year, Sprint had sued Vonage for violating patents related to Internet-phone technology. As with the Verizon case, Vonage says that it plans to appeal the decision.
"We are disappointed that the jury did not recognize that our technology differs from that of Sprint's patents," said Sharon O'Leary, chief legal officer for Vonage, in a statement.
Back in March, Vonage was ordered to pay Verizon $58 million after violating three technology patents. Vonage was temporarily barred from signing up new customers, but would eventually win a stay from an Appeals Court judge allowing the company to operate normally while its appeal was heard. (See Vonage Ordered to Pay $58M to Verizon, Appeals Court Lifts Vonage Injunction, and Vonage Wins Stay.)
An Appeals Court decision on the Verizon patent dispute could come at any day. If the guilty verdicts are held up for either of these cases, it could permanently cripple Vonage.
The company has had a hard time cutting quarterly losses and has seen its stock fall to $1.30 from a high point of $15.
— Raymond McConville, Reporter, Light Reading
Who is really guilty?
The investors and I Bankers that took this pig public in the first place and the public idiots that bought the stock. Fee's and greed.
A first grader can do the math on the Vonage business model and tell you it won't work ... let alone it's technology limitations.
This patent stealing pig needs to go into BK.
If Vonage were in China perhaps a different story on the patents ....