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Article: Vonage Whispers The 'B' Word.
- Article from:
- TelecomWeb News Digest
- Article date:
- April 18, 2007
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Vonage, filing a delayed 10K annual report this morning, warned it could go bankrupt as a result of its conviction for violating a trio of Verizon patents.
The statement was in stark contrast to the VoIP house's string of public pronouncements, in which it has continuously predicted it will eventually triumph in getting the conviction overturned. However, the admission mirrors a prediction by Citigroup, which had been the lead underwriter in Vonage's IPO last year and which also has hinted at the "B" word - bankruptcy - in its own analysis of the legal situation last month (TelecomWeb news break, March 27).
Citigroup, though, had said Vonage could ...