Vonage is saying that Verizon's patent lawsuit against the VoIP-telephony giant is "frivolous". The Holmdel, New Jersey-based company vowed to defend itself and added that the lawsuit will not affect operations, no matter what happens.

Apparently Vonage has a large legal warchest and its CEO, Mike Snyder, said that the suit will not hurt the company financially and adds, "Our financial reserves would allow us to continue normal operations regardless of the outcome. In addition, we are confident that regardless of how this litigation is ultimately decided, Vonage's customers will see no change whatsoever to any aspect of their phone service."

Full story on TG Daily.