Michael Rollins, analyst with Citigroup--the bank that led Vonage's ill-fated IPO last year--wrote in a March 26 note that "failing to successfully address the patent infringement suits" could force Vonage into "a financial restructuring or bankruptcy" in one or two years.

FORBES: Will Vonage Pay Up Or Shut Down?

The problem at the time was that if CEO Kevin Rollins and then Chairman Michael Dell were both charged with fraudulent behavior, Dell could not return to his company as the Board wanted him to resume his role as CEO.

FORBES: Why Keep Dell As CEO? He Has Nothing To Show For His Last Six Years

In February, company founder Michael Dell moved to replace struggling Chief Executive Kevin Rollins.

FORBES: Dell Returns From Hell