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A Settlement by Vonage Over Patents - New York Times
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The New York Times
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October 9, 2007
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Vonage, the Internet phone-calling pioneer, has settled its patent dispute with Sprint Nextelfor $80 million and agreed to license Sprints Internet-calling technology, the two companies said yesterday. The news buoyed the price of Vonages stock amid optimism that the settlement would eliminate one of several clouds hanging over the company. Its shares jumped 123 percent to close at $2.57. The price is still down 63 percent for the year.Last month Vonage was ordered to pay $69.5 million in damages to Sprint after a jury found that the company had infringed on six of its patents. The settlement with Sprint includes a $35 million payment for the past use of patents, $40 million for future ...
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