Vonage Holdings told to pay damages to Sprint Nextel

Vonage continues to remain in legal troubles as they have been found to have violated six patents owned by competitor Sprint Nextel Corp.

A federal jury further decided that they would have to now pay them $69.5 million in damages.

Market analyst Stephan Beckert had this to say on the judgment: “I don’t think it’s any secret that they’re not a well company. There’s also no question that they’re going to appeal, so the question then is, what’s next?”

Vonage is already in a massive financial crisis and their company stock took more beating at the market. The stock price is already down 79 percent this year.

The company had claimed that they were not infringing on any of the patents owned by Sprint Nextel. They contested the validity of all six patents and said that they should never have been issued in the first place.

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