I got 0 shares, now they've given me 500!

Posts: 13 · Vonage Forum Associate Joined: May 25, 2006 Posts: 13

Tuesday night I was nervous, and almost pulled out of my offer, but stuck with it. Not to worry, they gave me 0 shares. "Your allocation: 0 shares at $17" That's what the damn page said. Hit refresh a coupla times even. Wednesday came, and I was thinking how lucky that was.

I log in today to find out if I need to kill the temp account and how to do it. Tada! I owe them $8500 becuase they magically post-allocated me 500 shares.

Straight to a lawyer? I've got a call into SmithBarney but I'm not getting a good feeling about this. Any other advice?

Ticked off,
tp

Posts: 13 · Vonage Forum Associate Joined: May 23, 2006 Posts: 13

and then be in touch so we can band together. I'm with Smith Barney too. Strength in numbers! My post is 0 to 1300 ****?!?!?! (Lol that we both used **** that's pretty funny. If anything can be funny in the face of this fiasco.)

-Nina

Posts: 80 · Vonage Forum Senior Joined: May 24, 2006 Posts: 80

Someone had the same issue in vonage-forum.com/ftopic14262.html" rel="nofollow" target="_blank" class="postlink">THIS THREAD

It was suggested that it was an issue of seeing a cached page, but if you refreshed the page, that would not make sense.

I am sorry for your loss, but doubt you will be able to get it reversed unless you can prove that they showed you 0 allocation...

Posts: 13 · Vonage Forum Associate Joined: May 23, 2006 Posts: 13

I hit refresh and the page stayed the same. This is Vongage's bag, and I'm not going to get stuck carrying it. I'll fight it all the way to the bitter end. They messed with the wrong person.

Posts: 476

nshreiber wrote:

(Lol that we both used **** that's pretty funny. If anything can be funny in the face of this fiasco.)

-Nina

"****" are the generic characters that any "naughty word" is replaced with on this forum.

Posts: 13 · Vonage Forum Associate Joined: May 25, 2006 Posts: 13

It went from allocation pending to "0 shares at $17". This isn't a refresh issue. All communication regarding the IPO referenced the vonageipo.com site. That site told several of us we had 0 shares, at which point, for obvious reasons, we didn't track the stock yesterday, or today in my case until just now.

If SB doesn't come through with a solution, I smell a lawsuit. I wonder how many ppl haven't realized it yet?

Posts: 80 · Vonage Forum Senior Joined: May 24, 2006 Posts: 80

I feel very sorry for everyone affected by this, and sincerely hope you will be able to get this issue resolved.

I have posted an entry about this on my blog, and I ask anyone who might have had this same experience to come over there and share your story:
Vonage Allocating Shares After The Fact?

Posts: 8 · New Forum Member Joined: May 24, 2006 Posts: 8

Hey everyone, been out all morning. Just got back and placed a call to Schwab. I just put a limit order to buy at 6 7/8 for 3000 shares. I really love this company and think it will be the leader in the industry gaining valuable market share on the large "old line" phone companies.

Did I miss anything?

Posts: 4 · New Forum Member Joined: May 23, 2006 Posts: 4

For some reason, I had a sneaking suspicion that this could happen, so I saved the page reporting my 0 allocation. Unlike others, however, my allocation still says 0. I used UBS and it seems as if the two reports of post-allocation have come from Smith Barney users, so maybe that is a connection.

Posts: 2135 · Posted: Thu May 25, 2006 12:36 pm Post subject:

This Topic is being discussed vonage-forum.com/ftopic14262.html" rel="nofollow" target="_blank" class="postlink">HERE