Verizon was awarded $58 million in damages after an 8 person jury found Vonage guilty of ‘infringing’ upon 3 patents owned by the telecom – they were absolved of 2/5. The jury concluded that Vonage meant no mal intent which apparently helped soften the blow – apparently Verizon wanted more money. Patent infringement included, but not limited to call-waiting and how you hook up a standard phone line over the Internet. Additionally, Vonage must pay Verizon “5.5% in licensing fees per subscriber each monthâ€?. Vonage’s stock dropped 3.86% as a result of the news hitting an all-time low $4.85/share. It remains to be seen to how this will impact Vonage’s customers, but I’d expect to see more pics like this.

What the Verizon Verdict Means for Vonage [BusinessWeek]