I know two Vonage posts in a day, but their press release is laughable. Seriously, this is the type of commentary that gets investors confused. That's why you must get different points of view whenever you invest your own hard earned money. That's why I stressed to you this week in a post called Only The News That's Fit to Sell, that you need to read multiple sources if you are concerned about a subject or want to invest in stocks. Here's what the brilliant PR folks at Vonage said about their ruling yesterday:
Vonage Vindicated on Four of Seven Patents
HOLMDEL, N.J., March 8, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- We are delighted that the jury rejected Verizon's meritless claim that we infringed their two billing patents. Of the seven patents Verizon originally sued on, they prevailed on only three and we expect that verdict to be reversed on appeal. The jury's damage award represents a 70% reduction from Verizon's $197MM claim. The jury also unanimously rejected Verizon's claim that Vonage willfully infringed its patents.
In addition, we don't believe there is any basis to support Verizon's request for an injunction and we will have the opportunity to present our position to the trial court shortly. If the trial court does impose an injunction, we will seek an immediate stay from the Federal Court of Appeals. Vonage's customers should see no change to any aspect of their phone service.
That's awful and misleading and before you say "oh come on you are too harsh" read it again and figure out what they are selling. They are selling that their service will still be good and that you shouldn't dump their stock (which people are doing right now). Just more bad spinning on an awful stock.