Bye-bye, Mike. Vonage CEO Michael Snyder “resigned from the board effective Thursday, and Chairman Jeffrey Citron will be interim CEO until the company finds a replacement,” according to CNNMoney. Vonage will “reduce its general administrative expenses by $30 million through the rest of 2007 by cutting its workforce and consolidating operations.

It plans to reduce marketing expenses by $110 million.” The move comes following a judgment that Vonage had been infringing patents owned by Verizon.

Verizon has great lawyers. —MEGHANN MARCO

PREVIOUSLY: Verizon Sues to Shut Down Vonage
No New Customers: Judge Bars Vonage From Serving New Accounts
Never Mind, Vonage Can Still Sign Up New Customers

Want more consumer news? Visit our parent organization, Consumer Reports, for the latest on scams, recalls, and other consumer issues.