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Nortel And Vonage Settle Patent Lawsuit


Filed at 9:58 a.m. ET

HOLMDEL, N.J. (AP) Internet phone company Vonage and Canadian telecommunications equipment maker Nortel (NYSE:NT) Networks have settled their patent disputes.

The companies say the settlement involves a "limited cross license" to three Nortel and three Vonage patents, and will not call for any monetary payments by either company.

Last week, Vonage agreed to pay AT&T (NYSE:SBT) (NYSE:T) 1.95 (m) million dollars as a prepayment in an another patent settlement. The overall settlement will total 39 (m) million dollars to be paid over five years.

Vonage has seen its stock lose 71 percent in the past 12 months amid a string of legal problems.

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