Vonage Settles with Nortel

vonage.gif Internet calling company Vonage announced today that is has settled three patent disputes with telecommunications equipment manufacturer, Nortel. The settlement involves a limited cross license to three Nortel and three Vonage patents and will not call for any monetary payments by any party.

Vonage has settled other patent disputes in the last few months with AT&T, Sprint Nextel and Verizon Communications. The patent lawsuits caused Vonage stock to drop from an initial offering of $17 a share to as low as $0.89 a share in September of this year. As of this morning, Vonage shares sell for $2.16.