The impact of Friday’s VoIP tumult between Vonage and Verizon finally hit today as shares of Vonage dropped 10 percent, to $3.02 on the New York Stock Exchange. Faring much better, Verizon only dipped a penny to $37.99 on the NYSE. On Friday Vonage delayed a court order that would have prohibited the company from signing up new customers by securing a temporary stay from the U.S. Court of Appeals. According to sources, Vonage will post a bond in the amount of $66 million as well as a 5.5 percent royalty rate into escrow as the appeal process moves forward. Today, the company announced it will hold an investor update conference call on Thursday, April 12, at 8:00 a.m. (ET).
Vonage Stock Plunges After Court Troubles
The impact of Friday’s VoIP tumult between Vonage and Verizon finally hit today as shares of Vonage dropped 10 percent, to $3.02 on the New York Stock Exchange. Faring much better, Verizon only dipped a penny to $37.99 on the NYSE. On Friday Vonage delayed a court order that would have prohibited the company from […]
