Vonage V. Verizon update: Vonage gets to add new subscribers
It looks like a federal appeals court has issued a permanent stay on a lower court ruling banning Vonage from signing up new customers. Earlier this year a jury found that Vonage's internet telephony service violates patents held by Verizon, kicking off a whole slew of legal troubles for Vonage.
Today's ruling came just two hours after the appeals court heard arguments from the two sides.
The stay only applies while Vonage is appealing the initial ruling. If Vonage loses the appeal, the company could be finished. That said, Vonage stock jumped closed to 50% today on the first good news the company's had in months.
