Vonage Says FTC Inquiry Still Open

Vonage Holdings Corp. said on Friday that the Federal Trade Commission had not yet ended its investigation into the Internet telephone service provider's emergency 911-related compliance.

After saying on Thursday that the FTC had finished its investigation without taking any formal action, Vonage issued a correction that said the investigation was officially still going on because the company had not yet received a closure letter from the FTC.

The industry regulating Federal Communications Commission requires that Internet-based phone services such as Vonage ensure that customers who dial 911 are connected to a dispatcher who receives the caller's location and phone number.

The FTC opened its investigation into Vonage in January 2005, saying it was looking into how the company complied with federal emergency services rules.

Vonage shares have fallen 30 percent since their market debut last month at $17. The stock closed at $11.88 in New York Stock Exchange trading on Friday, up 0.8 percent.

Copyright 2006 Reuters Limited.

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