Mobile Financial Headlines

Vonage Holdings (VG): Going, going, gone

posted 522 weeks ago on BloggingStocks

Filed under: Verizon Communications (VZ), Vonage Holdings (VG)The Vonage (NYSE: VG) saga continues. Douglas McIntyre reported recently of a "sucker rally" in Vonage stock as Vonage tried to fight off a patent lawsuit brought against the company by Verizon (NYSE: VZ). Friday brought with it a refusal of an appeal made by Vonage and slapped the voice-over-IP telephony firm with a $120 million lawsuit. Legal costs have hurt Vonage and may increase its risk of bankruptcy. The company said that it may not have enough money to pay $253.5 million in debt due as early as December 2008. The firm had a first-move advantage and created an innovative service. Unfortunately, the legal issues and commoditization of voice-over-IP technology has severely hampered the prospects for the young comp

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