V-V-V-Vonage…D-D-Down….
July 12th, 2006 Posted in Main Page, VOIP Services, Competition/Vonage
Not to revel in anyone's misery but Vonage shares touched a new low of $6.93 (59% below the $17 IPO price) yesterday before closing at $7.04. It didn't help Klausner Technologies Inc. is suing for alleged patent infringement, and seeking damages and royalties of $180-million. Klausner said the patents involve Vonage's voice-mail services. Ironically, the lawsuit was filed the same day Vonage said it acquired three patents from Digital Packet Licensing Inc.
Update: Dealbreaker.com has a post looking at how many Vonage customers have balked at paying for the IPO shares given their sharp decline.
