This could be old news but I am beginning to wonder if it is a network issue more than the device issue. Check these two links below
.
Also, my Bionic keeps loosing data connection when I in my home area (Chicago suburbs). Recently I went to Las Vegas on vacation for 10 days and I did not loose my data connection even once. Now I am back home and the data connection keeps loosing again few times a day though I noticed some improvement now. I did NOT get the OTA update yet and I have the original software on it, like it was on Sep 8th when I bought it.
http://gigaom.com/broadband/verizon-still-ironing-the-bugs-out-of-lte/
http://connectedplanetonline.com/3g4g/news/ims-software-bug-caused-verizon-lte-outage-0519/index.html