Share Trading Halted

Posts: 5 · New Forum Member Joined: May 04, 2006 Posts: 5

Vonage shares halted after injunction
NEW YORK, March 23 (UPI) -- Vonage stock trading was halted Friday after a U.S. judge permanently prohibited the Internet phone carrier from using Verizon Communications technology.

Vonage Holdings Corp. stock had fallen 25 cents, or 6.2 percent, to $3.80 in afternoon trading on the New York Stock Exchange before trading was halted.

U.S. District Judge Claude Hilton in Alexandria, Va., granted Verizon's request for a permanent injunction prohibiting Vonage from using Verizon's Voice-over-Internet Protocol technologies that let people make calls over the Internet.

[/url]http://www.upi.com/NewsTrack/Business/Vonage_shares_halted_after_injunction/20070323-013511-9407r/[/url]

Hilton said Verizon would suffer irreparable harm if he allowed continued infringement of the patent. He rejected Vonage's argument the injunction would harm the public interest.

Hilton said he would hold a hearing later Friday on Vonage's request he delay imposing the injunction while it appeals the injunction and a March 8 jury verdict against it.

The jury found Vonage of Holmdel, N.J., had infringed on three patents owned by Verizon of New York and must pay $58 million plus 5 1/2 percent royalties on future sales. Verizon had sought $197 million in damages.

http://www.upi.com/NewsTrack/Business/Vonage_shares_halted_after_injunction/20070323-013511-9407r/

Posts: 162 · Posted: Sat Mar 24, 2007 12:01 am Post subject: Re: Share Trading Halted

Displeased wrote:

Vonage shares halted after injunction
NEW YORK, March 23 (UPI) -- Vonage stock trading was halted Friday after a U.S. judge permanently prohibited the Internet phone carrier from using Verizon Communications technology.

Vonage Holdings Corp. stock had fallen 25 cents, or 6.2 percent, to $3.80 in afternoon trading on the New York Stock Exchange before trading was halted. [...]

After hours trading is now fallen to approx. 3 dollars.

Outch.

Posts: 66 · Full Forum Member Joined: May 25, 2006 Posts: 66

Quote:

After hours trading is now fallen to approx. 3 dollars.

$2.50 is the magic mark.

Posts: 162 · Posted: Sat Mar 24, 2007 11:09 am Post subject:

trillian wrote:

Quote:

After hours trading is now fallen to approx. 3 dollars.

$2.50 is the magic mark.

$2.50-$2.80 was the magic mark even before the injunction. It is going to fall further.

Posts: 113 · Posted: Sun Mar 25, 2007 3:32 am Post subject:

Geez and I was going to buy stock in this company. You mark my words; if Verizon prevails in this suit all voice over ip is at risk. Verizon will own it all until their patent expires.