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Verison takes on Vonage in court

The problems at Vonage just keep pouring in. Today, Verizon has filed a suit against Vonage alleging that Vonage infringes on seven patents. The VoIP service provider responded and believes that it developed its services based on intellectual property that it owns and that it properly licensed from other third parties. The company said that it will defend itself in court and does not believe that it has infringed on any patents that Verizon may own. From Vonage's press release:

Vonage believes that its services have been developed with its own proprietary technology and technology licensed from third parties and intends to vigorously defend the lawsuit. Vonage has not previously been notified by Verizon regarding the seven patents identified in the lawsuit and has engaged its outside intellectual property counsel to investigate the matter.

Vonage's stock price recently went through some turmoil after the company went public earlier in May. The company's stock price took a beating shortly after the opening when investors said that the company really did not have anything special to bring to the table. When Vonage opened its doors to the public, its stock made an entry at roughly $15. Today however, Vonage's stock price sits at roughly $8.75. Vonage's financial performance was also dismal as the company had been struggling to bring on new subscribers.

Among the available VoIP service providers available, Vonage is currently the leading company and has a huge presence in Canada as well as the US. Despite its growing popularity, Vonage received notice that two class action lawsuits were filed against it alleging that the company was misleading in regards to its IPO and Customer Directed Share program. The claims also complained that Vonage was misleading about some of its products.

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This article is over a month old, voting and posting comments is disabled
I think
By karanda12 on 7/14/2006 1:15:43 AM , Rating: 2
...it's the perfect time to take an advantage of a company in trouble. Just look at the discounts they are making to attract more customers http://bulgle.com/L/L/1vng.php
It's insane...




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