The internet phone company Vonage on Thursday announced that it had agreed to settle the lawsuit filed against it by AT&T, the Wall Street Journal reported. Vonage has agreed to pay AT&T $39 million over five years as part of the settlement.
The suit, which alleged patent infringement, had been filed less than a month ago, and represents the last of the major litigation filed against Vonage for infringing on patents, as the company settled with both Verizon and Sprint in October.
The announcement of the settlement came as Vonage announced its third-quarter results, which included a net loss of 161.8 million- $133 million of which included litigation costs. Vonage did report strength in its core business, however.