If you can find one, go ahead and pick up a Vonage phone. That’s not a dial-tone you hear. It’s a flatline.

We’re not ones to gloat. Oh, wait. We totally are.

We’ve been talking about how Vonage is screwed for as long as we can remember. Even our Vonage graphic spells it out. It’s official description is “Vonage is screwed-on-crack, toasted, with share price dive-bombing.” (If our graphics guy wasn’t already drunk, we’d add a train-wreck to that picture today.) We wrote about the problems with this company so much that we had to impose a moratorium on ourselves.

This morning a judge slapped an injunction ordering Vonage not to let its customers make calls to standard phone lines, saying it’s voice over internet protocol infringed on Verizon’s intellectual property. There will be an appeal, of course. And the injunction doesn’t take place fo a couple of weeks. But the bottom all but dropped out of Vonage today, as the share price dropped 25%. It didn’t have far to fall, of course, so 25% means Vonage holders lost about a buck a share.

But here's some good news Vonage investors: your can’t lose that much more than three more times!

Vonage Internet Calls to Phone Lines Blocked by Judge [Bloomberg]