Considering not paying for your shares - read this first

Posts: 62 · Full Forum Member Joined: Apr 29, 2005 Posts: 62

I love how this has turned into a "I am more American than you because I pay for my shares" thread.

This whole forum has dropped down to the level of garbage, right along with VG.

Posts: 21 · Posted: Fri Jun 02, 2006 2:51 pm Post subject:

I didn't sit here and read thru 7 pages of posts, but I would bet that the people that backed out of their stock purchase will pay one way or another.

On Wall St you can not call in a stock order and then decide not to pay for it. When such a thing happens, the investment backing firm gets stuck paying for the stock and then they go after the dead beat to gain the money. If it gets ugly the firm will then mark the persons credit - the dead beats will not be able to get a loan for a candy bar until that debt is paid.

Posts: 476 · Posted: Fri Jun 02, 2006 2:59 pm Post subject:

deviceman wrote:

I didn't sit here and read thru 7 pages of posts, but I would bet that the people that backed out of their stock purchase will pay one way or another.

On Wall St you can not call in a stock order and then decide not to pay for it. When such a thing happens, the investment backing firm gets stuck paying for the stock and then they go after the dead beat to gain the money. If it gets ugly the firm will then mark the persons credit - the dead beats will not be able to get a loan for a candy bar until that debt is paid.

You really should read through the other posts first. Then you would know that Vonage had a clause in their SEC filings saying they would indemnify the underwriters and pay them for any DSP participant's shares if the DSP participant failed to pay. Of course, that just means the people will be on the hook with Vonage to pay.

Posts: 6 · New Forum Member Joined: Mar 10, 2005 Posts: 6

Why would anyone buy shares from ANY company IPO, esp. in the tec area? Geeze, look how far the NASDAQ is down. Congress is getting greedy (LOL - Say it ain't so!) as usual and will probably be after Vonage to raise rates by imposing tax's on the service. The Tele Co's are spending millions to see Vonage smashed, or at least crippled.

Folks complain that Vonage has taken them and are screaming bloody murder but don't say a word about the oil companies. NOBODY made anyone buy shares nor did the company mis-represent themselves. Just so I would have a dog in the fight I bought 10 shares. Its only money!!

Posts: 2 · New Forum Member Joined: Jun 02, 2006 Posts: 2

Wow - save the 'crybaby' lectures? Kinda hard when there are crybabies to be lectured too. There is absolutley NO justification or rational for your actions. From your point of view it would seem that contracts are not enforcable - and that you have a 'right' to screw the party you entered the contract with - becuase the deal didn't turn out your way. I would fully agree that if Vonage did indeed break laws in the process of selling the IPO - by all means you are within your rights. However - just as an adult has to accept the outcome of the slot machine after the money is put in - so must the investor accept a properly executed stock transaction - no matter the outcome. So far - there has been nothing that has been identified as an error by Vonage or the underwritters here - so yes - all you crybabies out there - accept the situation - and accept the fact that as adults we take risks - and have to live with the risks. There is NO such thing as a completely safe stock investment. If you allowed yourself to believe otherwise - grow up. And just to be clear - if it turns out that Vonage did mess up here - I am happy to support any statements made daming Vonage for this action - but right now I think it unlikely. Time will tell.

btrader wrote:

DuVader wrote:

You agreed to pay - you need to accept your obligation. ..... No difference in the contract to buy a house, car, pay rent - whatever - you are an ADULT (at least in theory - though you guys SOUND like cry babies) and you need to own up to your obligations like big boys and girls. Amazing. This is what America has come to - a bunch of whining idiots. Congtrats!

You think being a victim and accepting it makes you a great American? Makes you more adult?

Do you think when the mega-wealthy get scr~wed that they just take it? I fight for my money - And when I see an out, I press it to the limit. TRUST me if the shoe was on the other foot, those underwriters would be doing the same thing. You are very naive about the way the real world works.

I agree we are small timers, but if we band together - we are not collectively small. I have made my complaints known. If you are proud of yourself for being a "model" victim...good for you. But save the 'crybaby' lectures...nobody cares.

Posts: 75 · Vonage Forum Senior Joined: Apr 26, 2006 Posts: 75

DuVader wrote:

... So far - there has been nothing that has been identified as an error by Vonage or the underwritters here ...

While I agree with most of what DuVader said regarding paying for shares that were allocated, there indeed have been some things idetified as errors by Vonage relating to the DSP. They were included in the final prospectus on page 140 but Vonage believes they "have meritorious defenses to any legal actions based on claims of alleged defects in the email, website or voicemail."

Posts: 188 · Vonage Forum Master Joined: Mar 07, 2004 Posts: 188

I am just so happy that I saw Vonage as the short sighted company that it is and didn't get suckered into buying any of their shares. How are you going to build a company if you cannot keep your existing customers happy. Outgoing CID ****, no ACR, CS outside of the US, etc.... The only reason I am hanging with Vonage is the price. Now that they are publicly traded they will either try to fix their problems or start nickle and diming us. I'm watching the price. I don't care if it goes up because of taxes or any other excuse. Once it approaches the POTS prices I'm out of here. Please don't be mad at me, I'm just reflecting the same loyalty Vonage has extended to me. Hmmm, I wander if DC will post some cheerleaders under my post. LOL

Posts: 2251 · Posted: Sun Jun 04, 2006 4:57 pm Post subject:

strange_69 wrote:

Hmmm, I wander if DC will post some cheerleaders under my post. LOL

Only if it will make you feel better.

Smile

Posts: 188 · Vonage Forum Master Joined: Mar 07, 2004 Posts: 188

Life is good. Just having one of my weekly rants. I'll be better when the new features come out. Wink

Posts: 2251 · Posted: Mon Jun 05, 2006 12:02 am Post subject:

strange_69 wrote:

Life is good. Just having one of my weekly rants. I'll be better when the new features come out. Wink

At risk of being off-topic here, I am not sure who will be more happy for you when you have your ACR: Me happy for you or you happy for yourself.

When you do get it, please still do come back and post, ok?

Smile