 |
 | Vonage Forum Menu |
| | |
| Vonage Forums |
|
|
| | | |
| Vonage In The News |
| | |
| Vonage Customer Reviews |
| | |
| |
Vonage NEW YORK, June 2 (Reuters) - Some customers of Internet telephone service provider
NEW YORK, June 2 (Reuters) - Some customers of Internet telephone service provider Vonage Holdings Corp. (VG.N: Quote, Profile, Research) who bought shares in the initial public offering last week may have grounds to seek damages or require the company to buy back shares at their IPO price, a newspaper said on Friday.
The grounds would be based on technical errors in a highly unusual offer called a "directed-share program" that allowed about 9,000 to 10,000 Vonage customers take part in the May 24 IPO, The Wall Street Journal said.
In its prospectus filed with the Securities and Exchange Commission, Vonage said an active hyperlink to the prospectus was missing in its initial e-mail to prospective participants in the Vonage Customer Directed Share Program.
As a result, Vonage said it is possible that it could be determined that the e-mail and the first page of a Web site about the IPO, vonageipo.com, could be determined to be an "illegal offer" in violation of securities laws.
Recipients could seek to recover damages or seek to require Vonage to repurchase shares at the IPO price, the Journal said.
Vonage shares debuted at $17 per share, and have since declined more than 30 percent, closing Thursday at $11.63.
The errors could complicate Vonage's efforts to hold customers to buying the shares, the Journal said. But it isn't clear that customers would succeed in arguing that the errors were significant enough to force Vonage to compensate investors, it said.
Read The Full Thread: Vonage customers may have recourse from IPO-WSJ
• Whenever you have a financial disaster you'll have a legal fight, whether or not
• Errors Could Complicate
Vonage Efforts to Collect on IPO
By SHAWN YOUNG
June
LuisPR posted "NEW YORK, June 2 (Reuters) - Some customers of Internet telephone service provider" on 06/02/2006 |
|
|
| |
| Vonage Service Plans |
| | |
| Vonage VoIP Members |
|
 Members
 New EricRU
 New Today 9
 Yesterday 12
 Total 63419
 Who Is On Site
 Visitors 167
 Members 0
 Total 167
Vonage VoIP Forum Members:
Login Here
Not a Member? You can Register Here
As a registered member you will have access to the VoIP Speed Test, Vonage Service Announcements and post comments in the
Vonage VoIP Forums | | | |
| Vonage Stock Price |
|
Value: 3.07
Change:  +0.15
Up to 15 Minute Delay | | | |
| Site Search |
| | |
|
|
Vonage VoIP Phone Service is redefining communications by offering consumers
& small business VoIP Internet phones, an affordable alternative to traditional phone service.
The Vonage VoIP Forum Generated This Page In: 0.50 Seconds and 349 Pages In The Last 60 Seconds
The Vonage VoIP Forum
|
