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VoIP service provider Vonage was ordered to pay $69.5 million in damages to Sprint Nextel on Tuesday, after a jury found the company had infringed on six patents. This news follows an earlier lawsuit in March where a jury awarded $58 million to Verizon, courtesy of three additional patent infringements by Vonage.
Vonage shares have now sunk below $1, dropping 26% today, following a 33% collapse yesterday. While the company's commercials are still ubiquitous on television, Vonage has been a huge disappointment for investors, with shares now down more than 90% from where they began trading last summer.