18 April 2007
Vonage Holdings Corp.
outlined a bleak future for the Internet telephony company -- including
a possible bankruptcy -- if it loses its ability to solicit new
customers as ordered by a U.S. district court judge on April 4. Vonage hopes to stay that
ruling Tuesday before the U.S. Court of Appeals in Washington.
In a filing Tuesday with the Securities and Exchange Commission (SEC), Vonage
predicted if the Court of Appeals denies the stay, Vonage customers may
face service interruptions and the company's precarious financial
condition could be "materially and adversely" affected.