Phone Calls From Smith Barney

Posts: 12 · Vonage Forum Associate Joined: Jun 01, 2006 Posts: 12

Has anyone else received a phone call from Smith Barney telling them that their account is past due now??

Posts: 33 · Vonage Forum Junior Joined: Jun 01, 2006 Posts: 33

I did. He asked me if I was going to pay and that "it was a friendly call" to see if I was willing to do other business with them. More like a sales pitch.

I told him that had no idea i owed any money. He then said well you agreed to it online. I told him that my screenshot showed that I was allocated zero shares.

I then told him that if they wanted to collect from me, they would need to take me to arbitration (per the online contract) and I would be happy to arbitrate since this was the first time i heard i owed money.

He then asked if I refused to pay and I said no, Im not refusing. I asked him to send me information on this matter.

This is too funny. At the end of the day, if they make me pay I will. But at least for now I plan on sitting back and watching.

Ive participated in many DSPs before and all of them work in a way that you need to CONFIRM once the price is allocated and the # of shares are allocated. Here, silence was the acceptance (I might add that allocation happened in the middle of the night). Thats a little different and it will make their job harder to prove I accepted.

Posts: 30 · Vonage Forum Junior Joined: May 21, 2006 Posts: 30

Silence is the best policy.

I'm not answering my phone unless I recognize the phone number on caller ID.

This mess hasn't concluded by any stretch and anything can happen, so the less information, the less I say to Vonage or the underwriters the better.

I doubt that the underwriters will come hard after unpaid customers. Afterall, they're guaranteed payment by Vonage for any unpaid shares. So why would they want to do the dirty work for Vonage of chasing down money and at the same time upset clients or potential clients, or be a part of some bad press.

Nah, the underwriters might make a few "friendly" courtesy calls, but they know that Vonage will have to pay them so they won't come after the customers hard.

Posts: 12 · Vonage Forum Associate Joined: Jun 01, 2006 Posts: 12

I figured I wouldn't be returning their calls either. Silence is the best policy for now. If someone decides to pursue non-paying customers, it's going to be Vonage. That is as long as they just don't sell the debt to a collection agency.

Posts: 16 · Posted: Thu Jun 01, 2006 8:13 pm Post subject:

If you get a call from Big Vinny's Collection Agency in Bayonne N.J., I would answer the phone.

Posts: 16 · Vonage Forum Associate Joined: May 31, 2006 Posts: 16

The hammer will fall on all of you. This is the Big Pay Off for Vonage. How else can they secure their early retirement unless all of you PAY UP! (c;

Posts: 5 · New Forum Member Joined: May 31, 2006 Posts: 5

You better not pay so these crooks will learn their lesson and never push another flawed IPO on suckers like us again.

Posts: 33 · Vonage Forum Junior Joined: Jun 01, 2006 Posts: 33

There is no way i will pay for them. I look at this as a chance to save some $$$. When the chips fall your way, you might as well take advantage of it.

Its hardly stealing.

People break contracts for all sorts of reasons and so do businesses. If Vonage wants to come after me, then I am more than happy to have a court of law settle this. If, in the end, I am forced by law to pay, then I will.

I would also point out that the only remedy the underwriters have is to come after you in arbitration.

Plus the FAQ from the site clearly states:

Failure to make timely payment for all shares that Vonage agrees to sell to you may result in your loss of shares and an obligation to Vonage for any unsold portion of those shares.

So BFD. I lose my shares. WooHOO!!!

Posts: 11 · Vonage Forum Associate Joined: Sep 25, 2005 Posts: 11

Vonage offers call blocking.

wait until everything is clear. dont pay now. listen to CNBC watch stock on finance.yahoo.com and dont even think in ur dream it will pass $13.

some people might sue Vonage.

go with MA not VG

Posts: 16 · Vonage Forum Associate Joined: May 31, 2006 Posts: 16

GTNator wrote:

You better not pay so these crooks will learn their lesson and never push another flawed IPO on suckers like us again.

1. Never publicly advise anyone to break the law. You become liable for part of the damages then.

2. I believe that anyone who blindly buys ANY stock without first considering the short- and long- term ramifications is a fool. Not a sucker.

3. However, you may be a sucker, too for all I know.