Vonage has publicly admitted that it may be on the brink of bankruptcy. They blame the cost of fighting several patent lawsuits for their financial troubles as they report their shares have dropped another 6 percent. Since Vonage went public last May at $17 per share they have lost over 80 percent of their value and currently rest at just over $3 a share. In March the a jury ruled that Vonage infringed on three of Verizon’s VoIP patents and ordered them to pay more than $58 million in damages plus an additional 5.5 percent on future sales.
Via [msnbc.msn.com]
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