Vonage's Prospects Dim

A one-two punch of court decisions handed down Sept. 25 and Sept. 26 cast further doubt on Vonage's (VG) future and halved the market value of the beleaguered Internet-calling provider.

The bout got underway Sept. 25 when a jury found that Vonage infringed on six patents held by Sprint Nextel (S). The court awarded Sprint $69.5 million in damages and imposed a 5% royalty rate on future use of Sprint's technology. The next day, a different court upheld an earlier decision that found Vonage in violation of two Verizon Communications (VZ) patents and upheld a decision that bars Vonage from using Verizon technology without paying royalties.

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- Posted: 2007-09-27 09:50:10

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