October 25, 2007
On the Verizon
Verizon and Vonage settled Verizon's patent assertion. Vonage had been found infringing two Verizon patents, a ruling upheld last month by the CAFC, with a third remanded for specific damage reassessment. Vonage has requested an en banc rehearing. The price tag is $80 or $120 million, depending on the outcome of CAFC decision; the lower figure if Vonage prevails.
If Vonage wins a rehearing, or the injunction vacated, Vonage pays $80 million; otherwise, $120 million: $117.5m in damages, and $2.5m to certain charities.
Vonage shares shot up 67% to $2.50 on the announcement. Previously, Vonage shares had been going to hell in a bucket, and not enjoying the ride.
Vonage is the leading provider of Internet phone service (VoIP), with 2.5 million customers.
Vonage settled a patent infringement assertion with Sprint earlier this month for $80 million, but still faces a challenge from AT&T. AT&T snarls that it's been trying to squeeze money out of Vonage since 2005. Vonage coos: "It would be our preference to have an amicable solution with AT&T."
Posted by Patent Hawk at October 25, 2007 3:17 PM | Patents In Business
They should have hired Patent Hawk to invalidate the patents.
Or they could have hired Peterlin with her "substantial experience."
Posted by: anonymousAgent at October 25, 2007 4:22 PM
No doubt they should have hired Patent Hawk; merciless patent assassin.
Posted by: Patent Hawk at October 25, 2007 4:44 PM
Case in Wisconsin with AT&T so I would say Vonage should still call on Patent Hawk.
Posted by: IP Investor at October 26, 2007 3:23 AM