Beverly Hills 11/17/2009 6:45:57 AM
News / Business

Vonage Will Pay $3 Million to Settle Investigation of Business Practices

Finance World News Update by EQUITIES Magazine

Vonage Holdings Corp. has agreed to pay $3 million to 32 states in order to settle an investigation into some of its business practices.

 

In a filing today with the Securities Exchange Commission, the internet phone service provider said it also agreed to provide refunds to affected customers.

 

Wisconsin, who launched the investigation in November 2007 is joined by Alabama, Arizona, Arkansas, Connecticut, Florida, Hawaii, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maine, Michigan, Missouri, Montana, New Hampshire, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Vermont, Washington and West Virginia. The 32 states will share the $3 million settlement to cover legal and other costs, and any refunds owed by Vonage are on top of that amount.

 

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Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.

 

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