Vonage Says Patent Suits Could Lead to Bankruptcy
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Vonage Holdings Corp. says bankruptcy is among the potential risks from its continuing patent litigation with phone giant Verizon Communications Inc., as the Internet calling start-up’s problems deepen. Vonage made the statement in its annual report to the Securities and Exchange Commission yesterday. The case pits the second-largest U.S. telecommunications company, Verizon, against a start-up that once promised to revolutionize the phone world by offering discounted Web-based calls. Instead, Vonage’s existence is now in question as competition from cable and phone companies mounts and its legal woes have worsened. A federal jury in Virginia ruled last month the company had … Source : online.wsj.com |