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Settlement injects life into Vonage's stock
By Times Wires
Published October 9, 2007
NEW YORK The beaten-down shares of Vonage Holdings Corp. more than doubled in value Monday after the Internet phone company said it had settled a patent suit filed by Sprint Nextel Corp. Its shares gained $1.42 to close at $2.57. On Sept. 25, a jury in the U.S. District Court in Kansas City, Kan., found that Vonage infringed on six Sprint patents, and ordered Vonage to pay $69.5-million in damages. The settlement Monday resolves all claims in that suit for $80-million, the companies said. Sprint also agreed to license Vonage's portfolio of more than 100 patents on connecting calls between a regular telephone network and a packet-switched network such as the Internet. WEST PALM BEACH Roadhouse Grill files for bankruptcy Roadhouse Grill Inc., operator of casual-dining restaurants located mostly in the southern United States, including several locations in Florida, filed for bankruptcy protection for the second time in five years. The West Palm Beach-based company, which also filed for bankruptcy in 2002, listed assets and debt of less than $100-million in its Chapter 11 filing Monday in U.S. Bankruptcy Court in West Palm Beach. RHG Acquisition Corp., which owns 85.5 percent of Roadhouse Grill shares, also filed for court protection. AMSTERDAM, Netherlands RBS' bid for bank looks like winner A consortium led by Royal Bank of Scotland PLC won the battle for ABN Amro Holding NV on Monday, as the largest takeover ever in the financial industry - $99.6-billion - came closer to completion. The consortium's offer was unopposed after Barclays PLC withdrew its rival bid on Friday. PROVIDENCE, R.I. Textron pays $1.1B for defense firm Textron Inc. is buying United Industrial Corp. in a $1.1-billion deal that underscores its expectations for U.S. military reliance on unmanned aircraft. The deal announced Monday would help Textron expand its aerospace and defense business. United Industrial's AAI Corp. unit makes aerospace and defense systems including unmanned aircraft and ground control stations and counter-sniper devices. Textron owns Bell Helicopter and Cessna, and also makes golf carts, auto parts and surveillance systems.
[Last modified October 9, 2007, 00:38:01]
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