You cannot keep Vonage out of news. Now you all must be wondering what has happened now after its debacle at bourses and lawsuits filed by its customers. Is there anything else left to be done? Yes, the company is facing a patent infringement lawsuit which has been filed by two units of Verizon Communications. The lawsuit states that Vonage has infringed on seven patents related to VoIP technology. On the other hand Vonage has stated that its services have been developed with proprietary technology and technology licensed from third parties and it plans to contest the lawsuit.
The timing is just correct for Verizon, with Vonage already involved in a number of lawsuits and with its share already breaking the $8 barrier, Verizon could not have got a better opportunity than this to hurt Vonage. This is called hitting the bull's eye.
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Citron got greedy… I think he was hoping to overhype his product and sell it off quickly for a big gain.
Too bad the market caught onto him.
I mean, 90% of revenue on marketing?
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