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Vonage Gets Sued By AT&T In Patent-Infringement Suit
(InvesTrend Via Thomson Dialog NewsEdge)
October 22, 2007 (FinancialWire) Vonage Holdings Corp. (NYSE: VG) has
been sued by AT&T Inc. (NYSE: T) in another patent-infringement lawsuit.
A suit filed by Verizon Communications Inc. (NYSE: VZ) is still in the
court system, but the jury awarded Verizon $48 million in damages, plus
future royalties and two weeks ago Vonage settled a patent dispute with
Sprint Nextel Corp. (NYSE: S) for $80 million. In the AT&T lawsuit, the
single patent in question, filed in 1996, appears to broadly describe
the idea of routing telephone calls over data networks like the
Internet. The listed inventor is Alexander Fraser, AT&T's former chief
scientist.
Last week, Vonage settled a fourth legal dispute, with Klausner
Technologies Inc., a small company with patents on voicemail
technology, for an undisclosed sum. Klausner had sued for $200 million.
Vonage's growth stalled this year, leaving it with 2.3 million
subscribers at the end of the second quarter. Cable companies,
meanwhile, have rolled out voice-over-Internet technology and have
quickly gained customers among their video subscribers without having
to match Vonage's massive spending on advertising. Shares of Vonage
fell 13 cents to close at $1.54.
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