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Article: Verizon sues Vonage in Internet patent flap
- Article from:
- International Herald Tribune
- Article date:
- June 21, 2006
- Author:
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Matt Richtel and Ken Belson
International Herald Tribune
06-21-2006
Vonage, the Internet telephone startup, said that it was being sued by Verizon Communications in a dispute over the underlying technology that allows for Internet telephone calls.The lawsuit adds a new challenge for Vonage, which has seen its stock price slide precipitously since it went public last month. Word of the suit caused Vonage's shares to fall 11.7 percent to $8.48 on Monday. They were initially sold for $17 and have thus lost more than half of their value.Verizon is accusing Vonage of violating ''at least'' seven patents, according to the complaint, which was filed on June 12 in Federal District Court in the ...