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Technology Stocks : Vonage Holdings

VG 7.965

-4.6%

Nov 4 3:59 PM EST

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From: Done, gone.	4/9/2007 10:44:37 AM
	of 141

Vonage shares fall 11 percent after ruling Monday April 9, 10:26 am ET NEW YORK (Reuters) - Shares in Vonage Holdings Corp. (NYSE:VG - News) fell as much as 11 percent on Monday after a judge said it could not add new customers due to a finding that it infringed Verizon Communications (NYSE:VZ - News) patents for making phone calls over the Internet. Vonage shares were down 24 cents at $3.13 in morning trade on the New York Stock Exchange on investor uncertainty about Vonage, which received an emergency stay on the ban from a appeals court until that court can hear its request for a permanent stay. Earlier the stock traded as far down as $2.88, a new low. "Although it is possible that Vonage could win its appeal, it is also entirely possible that the company's appeal is denied or ultimately lost," said Deutsche Bank analyst Greg Miller in a note to clients. "In our opinion, absent a functioning 'work around' or a reversal of the District Court's ruling, we cannot envision how Vonage continues operations unimpeded." Vonage stock has steadily lost its value since its initial public offering at $17 a share in May last year. biz.yahoo.com

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