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Vonage Loses Appeal; Verizon Owed $120 Million

Posted by Zonk on from the need-to-get-out-of-the-spanking-machine dept.

Billosaur writes "Things do not look good for Vonage. Yesterday, they lost their request for reconsideration of their settlement with Verizon. This means Vonage owes Verizon $120 million to end the patent lawsuit filed against them. The costs associated with defending the case have cut into Vonage's bottom line, and despite attempts to cut costs by laying off 10% of their workforce, they may be unable to make a payment against their debt come December. According to the settlement, Vonage will pay $117.5 million to Verizon and another $2.5 million dollars to charity. Vonage's shares have dropped 87% since their IPO, now hovering around $1.50 per share."

7 of 160 comments (clear)

  1. and who woulda thunk it... by Bananatree3 · · Score: 2, Funny

    as Vonage was going IPO it would come burning down like a flamin' meteorite.

  2. I just hope the commercials go away by Anonymous Coward · · Score: 1, Funny

    Presumably their TV campaign will dry up?

    1. Re:I just hope the commercials go away by Anonymous Coward · · Score: 4, Funny

      No, it just changes to:
      "Boo hoo, boo hoo hoo..."

  3. What patent did Vonage infringe upon? by Anonymous Coward · · Score: 1, Funny

    What patent did Vonage infringe upon?

  4. Previous art no longer holds up? Awesome by CrazyJim1 · · Score: 4, Funny

    Dibs on patenting the wheel.

    --
    God spoke to me.
    1. Re:Previous art no longer holds up? Awesome by middlemen · · Score: 2, Funny

      This was on today's Engrish. Mixes prior "art" and patents.

  5. Soooo, looks like... by davidsyes · · Score: 5, Funny

    Von Boyage?

    --
    Previously: "Linux... Toward the Sunrise..." Now: "Linux... Toward the-- No, now, part of Every Sunrise"