Vonage Fires Back at Detractors

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Voice-over-Internet Protocol (VoIP) pioneer Vonage in Holmdel took a shot at those questioning its ability to sustain operations after a trial commenced last week in a patent-infringement lawsuit filed by Verizon Communications of New York City inVoice-over-Internet Protocol (VoIP) pioneer Vonage (NYSE: VG) in Holmdel took a shot at those questioning its ability to sustain operations after a trial commenced last week in a patent-infringement lawsuit filed by Verizon Communications (NYSE: VZ) of New York City in U.S. District Court in Alexandria, Va. Verizon claims in the suit, filed last June, that Vonage infringed on its patents concerning VoIP technology. But Vonage touts its balance sheet and unspecified contingency plans for maintaining the phone service operations regardless of the results of the litigation. Vonage CEO Mike Snyder asserted the company feels confident it has not infringed on any patents held by Verizon but also said the company believes Verizon’s patents are invalid. Shares of Vonage were up $0.10 to $5.49 and Verizon was up $0.20 to $38.61 in morning trading.