Vonage Loses Sprint Case

Vonage (VG Quote) shares hit a new low as the Net calling shop was slapped with another patent infringement setback.

A jury found Vonage had infringed on six of Sprint's (S Quote) patents and said the company should pay $69.5 million in damages and a 5% royalty on future revenue, according to a Bloomberg report.

Vonage pledged to appeal.

"We are disappointed that the jury did not recognize that our technology differs from that of Sprint's patents," said Sharon O'Leary, chief legal officer for Vonage. "Our top priority is to provide high-quality, reliable digital phone service to our customers. Vonage has already demonstrated that it can keep its focus on customers and on its core business while managing ongoing litigation," she added. ...