Vonage customers could see service disruptions should the Internet-phone service provider’s patent problems escalate, CNBC’s Jim Goldman reports.
Vonage has said in the past that it has a technological “workaround” in place that would continue service while not infringing on Verizon’s patents, Goldman said, but that no longer seems to be the case. The company, which has some three million customers, said it’s still working on its workaround.
Meanwhile, the company is undertaking a massive restructuring plan to try to survive, and investors seem to approve. Shares are trading higher Thursday on news CEO Michael Snyder resigned, with founder and chairman Jeffrey Citron reassuming the top job in the interim. Citron had given up the position just before the company’s IPO because of a pending fraud investigation, which was later settled.