Another day, more bad news for Vonage as Verizon has sued the VoIP service provider for patent infringment. So far today, Vonage shares have tumbled another $1.07 to $8.53 - a 50% decline from the IPO issue price of $17. Every $1 that Vonage drops, reduces its market capitalization by $155-million. At some point, it could get low enough for Vonage to become an attractive takeover target - although the Verizon lawsuit may complicate the issue.
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Vonage Tumbles on VZ Lawsuit
by
Mark Evans
on Mon 19 Jun 2006 02:56 PM EDT | Permanent Link
Comments
Re: Vonage Tumbles on VZ Lawsuit
I've put in a buy order at 5$. Given the market volatility and the lawsuit, not sure the risk is worthwhile (to me) above that point.
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