Sprint Nextel, Vonage settles their legal disputes
October 9th, 2007 Leave a comment Visited 19 times, 1 so far today
Sprint, Vonage settles their legal disputes
US based mobile service provider Sprint Nextel Corp has announced that they have now settled their legal disputes with VoIP service provider Vonage.
The case has been settled for around USD 80 million and it helped Vonage gain some respect back at the stock market.
Sprint has now agreed to license its technologies and patents to Vonage. This would solve most legal hassles for the company which has been struggling to survive in the recent months.
A federal court had earlier instructed Vonage to pay $69.5 million in damages plus future royalties to Sprint.
Sharon O’Leary, general counsel for Vonage said in a statement: “It allows us to put this litigation behind us and continue to focus on our core business by removing the uncertainty of legal reviews and long-term court action.”
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