Tempted to do stop payment...

Posts: 11 · Vonage Forum Associate Joined: May 22, 2006 Posts: 11

codyprime wrote:

I am no lawyer, but everyone, you need to realize that sending a check and stopping payment on it can be interpreted differently than simply not paying. Stop payments on checks can (depending on the state laws) be interpreted as "intent to defraud", and in some cases may be pursued criminally as well as civilly.

Especially those of you putting stop payments on your checks just because the stock tanked, and you heard a rumor that Vonage might cover your debt. That really starts to sound dangerously close to "intent to defraud" when those are the reasons you are stopping payment on the check, IMO.

Not saying it would happen, but my advice:

1.) Seriously consider the ramifications of placing a stop payment on your check, and

2.) Really, it makes no logical sense if you do such a thing to go blabbling about it online.

I agree with you, and minvestor... I played the game, I signed up (electronically) to pay and that is what I did. I'm waiting to see - officially - what Vonage is going to do, if anything.

Posts: 9 · New Forum Member Joined: May 31, 2006 Posts: 9

options:
-stop payment
-pay
-do not pay if you have not already

if you paid, your options are now:
-trust the underwriters
-get into the inevitable class action and recover whatever less attorney fees

did someone miss something here?

Posts: 292 · Vonage Forum Master Joined: Oct 08, 2004 Posts: 292

dapster wrote:

-get into the inevitable class action and recover whatever less attorney fees

For what? Were you wronged?

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

dapster wrote:

-get into the inevitable class action and recover whatever less attorney fees

With the exception of those who were told they received 0 shares only to discover later that they got shares after all, I really do not think any investors have anything to complain about with this IPO.

Sure, the stock is down A LOT.
Sure it hurts to lose money.

But, did Vonage really do you wrong in any way?

Posts: 6 · New Forum Member Joined: May 23, 2006 Posts: 6

Technically (legally) speaking, Vonage did not do me wrong.

Practically speaking, Vonage needs to do something to make up for the decline. For the underwriters, they look out for customers all the time--if an offering gets whacked, brokers complain to their bosses since their clients are giving them an earful, and the result is that those clients that got hosed get a better shot at participating in the next, better deal. It's all quid-pro-quo.

In our case, Vonage was effectively our underwriter, responsible for us as clients of the transaction, which is why they indemnified the official underwriters for any losses incurred on the behalf of Vonage clients. So, Vonage needs to figure out what it's quid-pro-quo should be. As current customers of Vonage, we do have power:

1-In the past, we were strong positive voices for the company, and if our opinion has changed, well, we can now be negative voices;

2-Cancel our service.

And our power is particularly strong until November, when the financial sponsors of Vonage are free to sell their shares... A lot can happen to the share price before then.

yachtman

ps. And I did get the full allocation and yes I still own the shares. And I am not happy.

Sad

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

yachtman wrote:

Technically (legally) speaking, Vonage did not do me wrong.

Practically speaking, Vonage needs to do something to make up for the decline. For the underwriters, they look out for customers all the time--if an offering gets whacked, brokers complain to their bosses since their clients are giving them an earful, and the result is that those clients that got hosed get a better shot at participating in the next, better deal. It's all quid-pro-quo.

In our case, Vonage was effectively our underwriter, responsible for us as clients of the transaction, which is why they indemnified the official underwriters for any losses incurred on the behalf of Vonage clients. So, Vonage needs to figure out what it's quid-pro-quo should be. As current customers of Vonage, we do have power:

1-In the past, we were strong positive voices for the company, and if our opinion has changed, well, we can now be negative voices;

2-Cancel our service.

And our power is particularly strong until November, when the financial sponsors of Vonage are free to sell their shares... A lot can happen to the share price before then.

yachtman

ps. And I did get the full allocation and yes I still own the shares. And I am not happy.

Sad

Agreed. I've stopped payment.

Posts: 1 · New Forum Member Joined: Jun 01, 2006 Posts: 1

Am I the only one who read the part of the materials published by Vonage itself that said that this investment is high risk investment and what the risks are? Grow up people.

You made a choice to take a risk. You knew exactly what the risks were, unless you flew through the material and did not read it or comprehend the risks in which case you shouldn't have invested in the first place. Live with the consequences of your choice.

I am a Vonage customer. I am happy with my service, I like the company, but I did not find their IPO to be financially sound at this time for the price they were asking, so I choose not to invest.

All those threatening to stop payments are breaking a binding contract that you agreed to by purchasing the stocks (except for the individuals who did not sign up and got stocks anyways or those who did not get the proper allocation they requested).