TELECOM Digest OnLine - Sorted: Vonage Loses Suit; Says Will Stay in Business

Vonage Loses Suit; Says Will Stay in Business

Reuters News Wire (reuters@telecom-digest.org)
Fri, 09 Mar 2007 16:09:44 -0600

Internet phone company Vonage Holdings Corp. said on Friday it was not
going out of business despite a jury's verdict a day earlier that it
infringed on three patents owned by Verizon Communications Inc.

"In the unlikely event the monetary award ($58 million) and royalties
are ultimately upheld/paid, they will not jeopardize Vonage's
financial position as we focus on achieving profitability," the
company said in a statement.

It also said there would be no change in its phone service and that it
was confident it could stay any injunction. The company's shares were
down around 15 percent in afternoon trade.

Copyright 2007 Reuters Limited.

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