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Vonage I have no idea what to make of this.
Today, I received a SOLD order confirmation
I have no idea what to make of this.
Today, I received a SOLD order confirmation for shares I never paid for:
You Sold 200 at a price of 10.96
Gross Amount $2,192.00
Other Fee .07
Transaction Fee 5.00
-
Amount $2,186.93
Settlement Date 06/19/2006
Trade Date: 06/14/2006
Symbol: VG
Unsolicited Order
Cash Acct.
HOLD PROCEEDS
We acted as your agent in this transaction.
As a reminder, payment for securities purchased or delivery of securities sold must be deposited with us by the Settlement Date.
I never paid for my shares. I had sent a check to Smith-Barney, then put a stop payment on it because of all the omissions and misrepresentations in the prospectus which led to lawsuits. Just like if you place a bet at a casino and find out that the dealer is cheating and the cards are purposely stacked against you, and you have a chance to pull your bet back off the table, why not pull your bet back if you can.
I didn't instruct them to sell the shares I never bought (although looking at today's drop to 8.68, I'm glad that the worst case scenario is that I'm out at 10.96 instead!)
I've been maintaining a "wait and see" position on this. There's somewhere between 6-10 separate class action lawsuits against Vonage, it's officers, and the underwriters at this time.
Has anyone else who hasn't paid also received a similar sold order confirmation in the mail recently? What are you going to do now?
Read The Full Thread: My Unpaid Shares were Sold!
• Just checked. UBS sold the ones they say I owned to at 10.96. I guess they wanted
• I have not received any request for payment, aside from that mass e-mail that Vonage
• After thinking this over, this is my observation of why SB sold the unpaid shares
• I did not participate in the IPO, so I haven't seen the IPO agreement you received.
However,
• Same story here. They [SB] dumped mine at 11.90 something (don't have it in front
• A bad check (or a stop-payment) will usually trigger the deadline prematurely.
That
• Vonage is back up to $9.00 and still climbing. Guess there's so many people out
bigtuna posted "I have no idea what to make of this.
Today, I received a SOLD order confirmation" on 06/19/2006 |
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