Sponsored By

Vonage to Hold Call

Vonage views the Court of Appeals' granting of a temporary stay as the first step toward resolving this matter in Vonage's favor

April 9, 2007

1 Min Read

HOLMDEL, N.J. -- Vonage Holdings Corp.(NYSE: VG), a leading provider of broadband telephone service, today statedthat it views the Court of Appeals' granting of a temporary stay on Fridayallowing Vonage to continue to add customers as the first step towardresolving this matter in Vonage's favor. The stay will remain effectivewhile the Appellate Court considers making the stay permanent.

Vonage will continue to provide digital telephone service to existingcustomers indefinitely by paying into escrow a quarterly royalty of 5.5%throughout the appeals process. Separately, the District Court requiredVonage to post a bond of $66 million to secure Verizon's damages judgment.

Vonage is pleased that existing customers will not experience anyinterruption in service. The Company continues to believe it will succeedon appeal and continues to work on designing around the Verizon patents.

Vonage also continues to believe that this case is an attempt to do inthe court room what Verizon could not succeed in doing in the marketplace-- which is to put Vonage out of business.

Vonage announced it will hold an investor update conference call onThursday, April 12, 2007 at 8:00 AM ET. To participate, please dial (800)289-0533 approximately ten minutes prior to the call. International callersshould dial (913) 981-5525. The call will be simultaneously webcast andaccessible via Vonage's Investor Relations website at http://ir.vonage.com.A replay of the call will be available on Vonage's Investor Relationswebsite shortly following the webcast for two weeks.

Vonage Holdings Corp. (NYSE: VG)

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like