A federal judge has barred Internet phone company Vonage Holdings Corp. (NYSE: VON) from signing up new customers as it appeals a ruling that it infringed upon Verizon Communications, Inc. (NYSE: VZ) patents.
The Holmdel, N.J.-based Vonage planned to file an immediate appeal, according to published reports.
Two weeks ago, U.S. District Court Judge Claude Hilton had ordered a full injunction on Verizon's use of the infringed patents.
The judge said that the revised injunction would not be imposed until next Thursday.
Verizon was fined $58 million and was ordered to pay 5.5 percent on revenue gained through the use of the patents.
Vonage shares lost 25 cents, or 6.91 percent, to close at $3.37 on Thursday in trading on the New York Stock Exchange. The Exchange was closed on Friday for the observance of Good Friday.