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Article: Vonage Gives Grim Picture On Verizon Ruling.
- Article from:
- TWICE
- Article date:
- April 23, 2007
CopyrightCOPYRIGHT 2007 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Greg Scoblete
HOLMDEL, N.J. - Shortly after replacing its CEO, VoIP provider Vonage warned investors that its ongoing patent dispute with Verizon could lead to bankruptcy.
Characterizing the legal battle as "damaging and disrupting" Vonage said the possibility of bankruptcy loomed if its emergency stay is not extended throughout its appeals process. A judge is set to rule on whether to extend the stay on April 24. If the stay is not granted, Vonage may be forced to stop signing up new subscribers.
Vonage also said it was attempting to design a work-around for the Verizon patents but that such an effort may not be feasible, may disrupt its ...