More Bad News For Vonage!

Less than 48 hours after the ruling against Vonage in the Sprint Nextel patent lawsuit, Vonage got more bad news in the announcement that their appeal of the Verizon 55 million dollar patent infringement suit was denied. However, they did manage a small victory in that there were originally three patents they had been found to be violating but the courts sent back one of them for further review. If they manage to get the third patent violation dismissed, they will likely only have to pay around 40 million in damages. It is also still a possibility that the amount could be changed, since the judge asked for the damages payout to be re-examined as well!

Either way Vonage is looking at paying tens of millions of dollars to Verizon and a company in their battered state would be hard pressed to survive a payout like that!

Their stocks also took a beating dropping below $1 a share for the first time ever ($0.99).