Vonage
has been refused leave to appeal in its patent spat with
Verizon
and faces a bill of $120m in damages.
The judge at the
US
Court of Appeals for the Federal Circuit denied the application for an
appeal, and Vonage will now pay $117.5m to Verizon and an additional $2.5m to
charity.
The fine was levied after a court found Vonage in
violation of three
patents owned by Verizon concerning VoIP and call features.
"We were not surprised, but we are disappointed that the court denied our
request for a rehearing of the case," Vonage spokesman Charlie Sahner told
Bloomberg.
"We are pleased to continue putting litigation behind us."
Vonage has had a difficult few years. The price at its initial public
offering was $17 per share but this fell by over 20 per cent on the first day's
trading, and now stands at just over $2.
The firm has already said that it may not be able to meet its obligations
over debt, with potentially $253.5m due by December 2008.
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VoIP provider eager to go back to business as usual 25 Apr 2007
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