Vonage: Key Decision For Contest Owners?
Hey folks. Since Vonage is in the contest lists of both most active and widely held stocks, here's some news about the telecom company you might find interesting. Vonage can now sign up new customers after a court ruled today, against an injunction that prevented Vonage from doing just that. The injunction stemmed from a patent case with Verizon.
The U.S. Court of Appeals for the Federal Circuit granted the stay of a trial judge’s injunction on Tuesday afternoon, just hours after hearing arguments.
FYI: Vonage is seeking to overturn a jury’s verdict in March that it infringed on three Verizon patents in constructing its Internet phone system. The trial judge had ordered a compromise injunction, allowing Vonage to keep serving its 2.4 million existing customers during the appeal, but to stop adding new ones.
Vonage’s battered stock price rallied as much as 53 percent higher after the decision, which enables it to keep signing up new customers while still using the disputed technology until the appeal is decided.
Again, this news is for the purpose of the contest and NOT necessarily for your personal portfolio.
Here's a video report on Vonage from CNBC's Jim Goldman that aired on CNBC-TV today.