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Technology Stocks : Vonage Holdings

VG 7.865

-1.3%

1:11 PM EST

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From: FJB	3/27/2007 6:27:15 AM
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LONDON (MarketWatch) -- Citigroup downgraded Vonage Holdings to sell from hold, citing an injunction requiring the company to stop using patented technology owned by Verizon Communications, though the court may stay the ruling in a further hearing. "We believe the risk to the company's profitability has increased, regardless of the stay, as Vonage may increasingly need to pay or invest more for intellectual property to maintain its full functionality and service delivery to its customers," Citigroup said.

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