Breaking News - My Stock Was Bought Out

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

My stock was sold at 12.10 last tuesday by UBS w/o my consent b/c I didn't pay. At this point it's impossible to make me pay b/c that would be acknowledging the shares are mine and they can't sell MY shares. Keep the shares and the money you hypocritical liars.

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

Your funny Lol

"My Shares" You didn't pay and you think they are your shares? Very funny stuff!

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

I think thats the point...

Although from the bankers perspective, they are out a lot less $$$ once they sell the shares.

lol!!

Woo Hoo Woo Hoo Hoo

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

gfoulks wrote:

Your funny Lol

"My Shares" You didn't pay and you think they are your shares? Very funny stuff!

Isn't that the whole point of his argument?

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

They were his/her shares and because s/he didn't pay, the broker sold the shares. There allowed to do that.

Just like a margin call.

However, in this case instead of liquidating your brokerage (these limited access brokerage accounts can't be liquidated) account to make up the difference Vonage will have to pay the difference per the liability release.

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

I'm getting confused with what's going on.

First, I'm getting letters in the mail from Smith Barney telling me to make payment.

I'm one of those people here who sent in a check right away on good faith that everything was on the up-and-up, then read about lawsuits, golden parachutes, omitted facts from the prospectus, and other nefarious dealings of the company, so I quickly put a stop payment on my undeposited check.

Now, I'm reading here that the unpaid shares are being sold by the brokers like Smith Barney, and the "investors" who didn't pay for them are being notified that they are basically off the hook?

This is even more reason for me not to send any money to anyone while this gets sorted out.

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

bigtuna wrote:

I'm getting confused with what's going on.

First, I'm getting letters in the mail from Smith Barney telling me to make payment.

I'm one of those people here who sent in a check right away on good faith that everything was on the up-and-up, then read about lawsuits, golden parachutes, omitted facts from the prospectus, and other nefarious dealings of the company, so I quickly put a stop payment on my undeposited check.

Now, I'm reading here that the unpaid shares are being sold by the brokers like Smith Barney, and the "investors" who didn't pay for them are being notified that they are basically off the hook?

This is even more reason for me not to send any money to anyone while this gets sorted out.

I would not send in any money if I were you and wait to see what goes on here.

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

My/Their stock was sold prior to the June 13 payment deadline and the my check cleared today. Isnt that known as the unauthorized sale of my securities?

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

As far as I know SB was the only broker to extend the payment period. Were your holdings with SB? Did you call the broker and discuss the issue with them?

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

I just want to let people know that I was so disgusted in the way this whole IPO process went down, that I decided to cancel Vonage today and switch to Sun Rocket.

And, I still have no intention on paying for my 100 shares Vonage claims to ahve allocated to me in the DSP since I never agreed to have those shares allocated.

Woo Hoo Woo Hoo Hoo