VoIP pioneer
Vonage got a new, temporary, lease on life today as The U.S. Court of Appeals for the Federal Circuit in Washington D.C. issued a permanent stay of a previous injunction that would have prevented the company from signing any new customers.
Interim Vonage CEO, Jeffrey Citron said, “We thank the appellate court for its thoughtful consideration of the merits of our case… We continue to believe we have not infringed on any of Verizon's technology and remain optimistic that we will ultimately prevail in this litigation.”
Vonage got a healthy stock boost after Wall Street heard the news, but this doesn’t mean Vonage is out of the woods. The stay of the injunction will only help Vonage during the appeals process. If the company ultimately loses the appeal against Verizon, all today’s celebration will simply be remembered as Vonage’s last hurrah.
