SPRINT NEXTEL CORP WINS $69.5 Million FROM VONAGE
CHICAGO--SPRINT NEXTEL CORP won a $69.5 million dollar judgment from Vonage Holdings Corp in a Patent Infringement Lawsuit. This is the second lost for Vonage in that Verizon Communications Inc., won a $66 million dollar infringement suit against Vonage earlier this year.
Besides the damages, Vonage must pay Sprint a 5 percent royalty on future revenue. Vonage, which first sold shares to the public in May 2006, has never reported a profit. The company has $248.2 million in debt due in 2010. The company reported a net loss of $286.1 million in 2006. Leo Stoller is a trademark expert, trademark valuations, trademark licensing, brief writing ldms4@hotmail.com
