Wednesday, September 26, 2007

Vonage Is Dealt a Setback With Second Big Legal Defeat - WSJ.com

I'm starting to seriously wonder if I'm going to need to find a new phone service provider... 

Vonage shares fell 34%, or 66 cents, to $1.30 at 4 p.m. in New York Stock Exchange composite trading -- an all-time low. Since its initial public offering, when the stock hit $17, the shares have steadily fallen over the past year and a half.

Vonage is working on a technology "workaround" to Sprint's patents, similar to how it is addressing the Verizon patents.

A pioneer in offering Internet-phone service, Vonage has suffered a flood of negative press and litigation, which have curtailed customer growth. But even before the problems, the company lost money as it spent heavily on subscriber growth.

Vonage Is Dealt a Setback With Second Big Legal Defeat - WSJ.com

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