Vonage to buy back shares for those not willing to pay.

Posts: 243 · Vonage Forum Master Joined: Jan 18, 2004 Posts: 243

Heard this morning on CNBC that for Select customers who chose not to pay for the shares they asked for Vonage is going to buy those shares back from the customer.

So if you broke the rules your rewarded with a $17 buyback while those that played by the rules are getting punished with with a $12 stock and huge losses?

Posts: 1123 · Vonage Forum **MVM** Joined: May 26, 2005 Posts: 1123

Man, all i can say, is that watching this as an outsider, this has the makings of a great soap opera. Drama, deceit, controversy. All you need now is for Vonage to come out and say it was all a dream, aka "Dallas". Very Happy

Posts: 476

gfoulks wrote:

Heard this morning on CNBC that for Select customers who chose not to pay for the shares they asked for Vonage is going to buy those shares back from the customer.

So if you broke the rules your rewarded with a $17 buyback while those that played by the rules are getting punished with with a $12 stock and huge losses?

I wonder if the "Select" customers are those that were originally told they had been allocated 0 shares only to find out later they had actually been allocated some number of shares?

Posts: 17 · Vonage Forum Associate Joined: May 23, 2006 Posts: 17

Just stopped payment on my check

Posts: 243 · Vonage Forum Master Joined: Jan 18, 2004 Posts: 243

I'm wondering if I should do the same... I mean I was willing to ride this out to see what would happen but if they are just going to do a $17 buy back then why not take that action.

It just doesn't seem right that they would only offer this to those that said that they were not going to pay.

The news report didn't say anything about the select being those with questionable allocations. They said that the bankers where busy calling customers trying to get people to pay for their shares and they were getting alot of "hell no's" Vonage had a meeting to discuss what they were going to do and they decided on an option that would buy the shares back that went unpaid.

I've never seen anything like this! This IPO is a total mess!

Posts: 4 · New Forum Member Joined: May 30, 2006 Posts: 4

There is no way I am paying for this and you are out of your minds if you do..Vonage and underwriters knows there is nothing they can do about this...The underwriters are screwed and watch for this whole IPO to be cancelled along with all trades. This has happened several times in 2000 with some IPOs that also went bust.They can kiss my asssz. I did not sign a damn thing with the brokerage account and good luck taking the rest of us to court. It will Not affect your credit so do not listen to the poster(probably works for underwriter telling you otherwise). The CEO also cancelled his scheduled appearance on CNBC and they are past the quiet period so that doesn't hold. [B]Prediction the whole IPO will be CANCELLED![/B]

Posts: 32 · Vonage Forum Junior Joined: May 08, 2006 Posts: 32

Had the stocks gone the otherway, you guys wouldn't be here **** and whining. C'mon, you all knew the risks. No one put a gun to your head and forced you to buy the stock. Take your losses like a man and move on already. Vonage buying back stocks are wishful thinking. Not paying the underwriters ? There'll be repercussion to that action (or should I say inaction). good luck.

Posts: 243 · Vonage Forum Master Joined: Jan 18, 2004 Posts: 243

ipobust wrote:

There is no way I am paying for this and you are out of your minds if you do..Vonage and underwriters knows there is nothing they can do about this...The underwriters are screwed and watch for this whole IPO to be cancelled along with all trades. This has happened several times in 2000 with some IPOs that also went bust.They can kiss my asssz. I did not sign a damn thing with the brokerage account and good luck taking the rest of us to court. It will Not affect your credit so do not listen to the poster(probably works for underwriter telling you otherwise). The CEO also cancelled his scheduled appearance on CNBC and they are past the quiet period so that doesn't hold. [B]Prediction the whole IPO will be CANCELLED![/B]

Your suggesting that I work for the underwriter? I've been a member of this forum since January 2004, you just joined today, made two posts and your second posts is accusing a long time member as being something they are not? My original post was made based off information being reported on CNBC. I was simply commenting on the notion that I didn't think it was fair that Vonage would only buy back shares from those individuals that failed to live up to their commitment. Oh by the way... you did sign for those shares electronically and if Vonage wanted to press the issue they could take legal action.

Posts: 4 · New Forum Member Joined: May 30, 2006 Posts: 4

BS...the underwriters mispriced the issue BIG TIME! Regos dealing with Datek was never disclosed until after the FACT!
In case you do not know Datek had one of the WORST reputations on Wall Street. I do not pay for things that are a Fraud...do don't be a preacher

Posts: 2251 · Posted: Tue May 30, 2006 10:32 am Post subject:

ipobust wrote:

Regos dealing with Datek was never disclosed until after the FACT!

? What dealings?

ipobust wrote:

In case you do not know Datek had one of the WORST reputations on Wall Street.

Is that way it sold for 1.3 billion?