Via MarketWatch:

Last Friday, a U.S. District Court judge ordered the company (NYSE: VG) to stop adding new customers following a prior ruling that Vonage violated patents held by Verizon Communications (NYSE: VZ).

A few hours later, however, a federal court of appeals issued a stay that allows Holmdel, N.J.-based Vonage to continue to do business as usual until an appeal is heard.

Vonage is seeking to make the stay permanent. The stay gave the company a reprieve, but investors didn’t. Vonage’s stock fell to an all-time low of $2.88 from last week’s closing price of $3.37, before rebounding slightly. Shares were down 6% at $3.17 at late morning.

On Monday, Vonage said in a brief statement that "it continues to believe it will succeed on appeal and continues to work on designing around the Verizon patents."

Vonage has said its "workaround" would allow subscribers to use their service as they normally do without violating the Verizon patents.