|
|
Article: Vonage says rumors of death exaggeratedMOVERSMARKETPLACE by Bloomberg
- Article from:
- International Herald Tribune
- Article date:
- March 27, 2007
- Author:
CopyrightProvided by ProQuest LLC. (Hide copyright information)
|
Amy Thomson
International Herald Tribune
03-27-2007
Vonage Holdings, whose stock fell to an all-time low last week, said investors who expected the Internet telephony company to fold after its loss in a patent lawsuit to Verizon Communications have made ''a huge mistake.''Vonage shares slid to $3 on March 23, a record 26 percent drop and the lowest since its initial public offering last May. The drop followed a Virginia judge's decision to block Vonage from using Verizon's technology that allows Internet calls to reach traditional phone lines.''To paraphrase Mark Twain, the rumors of Vonage's death have been greatly exaggerated,'' the company's chief executive, Mike Snyder, said in a ...