Thursday, November 08, 2007

Vonage, AT&T likely to settle

InformationWeek wrote: [Vonage] also reported it has settled another patent infringement law suits -- this one with AT&T -- that have plagued the start-up company for months. Earlier Vonage settled suits with Verizon Communications and Sprint (NYSE: S) for a total reaching as much as $200 million. The agreement with AT&T calls for Vonage to pay the telecom company $39 million over five years, Vonage reported.

"The parties will work diligently to finalize the specific terms of the settlement agreement," according to Vonage. "AT&T would agree to dismiss the lawsuit against Vonage, and Vonage would agree to dismiss a case against AT&T, which is also outstanding."

Internet news reported on Nov. 8: Vonage said Thursday [Nov. 8] that it had reached "an agreement in principle" with AT&T to settle the patent-infringement lawsuit filed by the telecommunications company.

According to Vonage, the terms of the deal under discussion include a payment by Vonage of $39 million over five years in exchange for AT&T dropping its suit. Vonage would also drop its own suit against AT&T.


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