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FOLLOWING THE TELECOMMUNICATIONS INDUSTRY AND RELATED LEGAL TOPICS

Friday, June 09, 2006

No Net Neutrality and Vonage Short Sellers...Oh My!

The Bells dodged a Freaky Friday upset on the net neutrality vote when the House passed the Barton bill late last night on a 321-101 vote. The Markey amendment, which sought to add some teeth to the bill's "network neutrality" provisions, failed 269-152. See you see, Wednesday's vote to allow the floor consideration of the amendment was all a short bad dream for the Bells.

In the continuing saga that is the fall-out from the Vonage IPO, the Wall Street Journal is reporting this morning that "Securities regulators have launched an investigation into how short sellers may have played a role in the steep decline in the stock price" of Vonage. The article says that for now the investigation is being conducted by the regulatory unit of the New York Stock Exchange, which sent a letter to trading houses yesterday "asking questions about how the dealers may have facilitated short sales." If the news on Vonage continues in this vein we could have enough for a beach read by the end of the summer.

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