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Bruafekkay Posted:
agreed dingy
anybody, obviously
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Bruafekkay Posted:
agreed drab
individual, large
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tplink Posted:
Im trying to add
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DWSupport Posted:
After recent
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peterlee Posted:
Had a call from a
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rio
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HildBeft Posted:
You can recollect
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Great tips..
Thanks for sharing
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massrman Posted:
The devices are
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margins , please
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Hi these are most
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Post new topic   Reply to topic  Vonage® VoIP Forum - Vonage News, Reviews And Discussion » Vonage Stock
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ckudrna
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PostPosted: Tue Jun 13, 2006 3:33 pm    Post subject: Breaking News - My Stock Was Bought Out Reply with quote Back to top

Stock was bought out, owe no money.


Last edited by ckudrna on Wed Jun 14, 2006 1:48 pm; edited 1 time in total
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sgroi135
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PostPosted: Tue Jun 13, 2006 3:34 pm    Post subject: WOW Reply with quote Back to top

Did you sell the shares?? Or did you just let it sit?
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dapster
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PostPosted: Tue Jun 13, 2006 3:37 pm    Post subject: Reply with quote Back to top

Unfortunately I just paid for mine and received a notice that they sold it last week. I really wonder if this could be any messier.
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ckudrna
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PostPosted: Tue Jun 13, 2006 3:53 pm    Post subject: Reply with quote Back to top

I sold the first day
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rudedog40
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PostPosted: Tue Jun 13, 2006 3:56 pm    Post subject: that's ridiculous Reply with quote Back to top

This has got to be the most moronic stock trade in the history of the NYSE if what you are saying is true. I can't believe a broker would eat the cost of these stocks based on some far-fetched technicality. If what you're saying is true, this will change how any IPO comes out in the future. Don't like the outcome of an IPO performance - WAAHH, give me my money back!!! I guess their first mistake was allowing these margin accounts in the first place. They shouldn't have allocated any stock until cash was in hand. Unfortunately they were in a rush to get this IPO out, fearing if they waited any longer, it might not happen at all. All I can say is you got lucky. Now I suppose the next lawsuit will be from the honest buyers who honored their committment and paid for the shares they requested. Why should they take a loss and keep a stock that appears will be worth half its original value by the end of the week (sitting at 10.96 today)? Hopefully they will give these individuals the same opportunity and give them the option -- holding onto the stock, hoping it goes back up, or give them back their full payment and call it even. Can't see it not happening.
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sgroi135
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PostPosted: Tue Jun 13, 2006 4:14 pm    Post subject: We will see Reply with quote Back to top

I too sold the first day and i have yet to pay for the shares. Actually i did send in the check and then i put a stop payment on it. I figure why lose that much money until i really have to pay for it. We will see...
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ckudrna
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PostPosted: Tue Jun 13, 2006 4:18 pm    Post subject: Reply with quote Back to top

I would hold off on paying for the shares. Seems like the trades were already bought out by Smith Barney, so I would not send in any money. This was a broken IPO from the start and I am shocked that anyone ever sent in any money before everything was sorted out.
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audiotron
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PostPosted: Tue Jun 13, 2006 4:24 pm    Post subject: Reply with quote Back to top

Woo Hoo Woo Hoo Hoo
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rudedog40
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PostPosted: Wed Jun 14, 2006 1:37 pm    Post subject: So why the lawsuits? Reply with quote Back to top

So if Smith Barney is paying all the non-payers off, why are there still class action lawsuits being filed? If you're getting your money back, what is there to sue for? The ambulance chasers think Vonage deserves to pay the people who welched on their payment a 'distress, pain and suffering' settlement? If you're getting your money back, then no lawsuits are required:

Spector, Roseman & Kodroff, P.C. Announces Class Action Lawsuit Against Vonage Holdings Corporation

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PHILADELPHIA, Jun 14, 2006 (BUSINESS WIRE) -- The law firm of Spector, Roseman & Kodroff, P.C. announces that a class action lawsuit was commenced in the United States District Court for the District of New Jersey, on behalf of all purchasers of the common stock of Vonage Holdings Corporation ("Vonage" or the "Company") (VG : Vonage hldgs corp com
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VG10.33, -0.63, -5.7%) who purchased or otherwise acquired Vonage common stock pursuant to or traceable to the Company's May 24, 2006 Initial Public Offering (the "Class").
The Complaint alleges the Company and certain named officers and underwriters violated the federal securities laws by publishing a materially false and misleading joint Registration Statement and Proxy-Prospectus (the "Prospectus"). The Company provides broadband telephone services in the United States, Canada, and the United Kingdom, primarily using voice over Internet protocol technology. Prior to the Company's Initial Public Offering ("IPO" or "Offering") on May 24, 2006, the Company had spent hundreds of millions of dollars to market its services to potential customers. However, the Complaint alleges, both the Company and Company insiders, who had invested hundreds of millions of dollars of their personal funds in the Company, were losing money. According to the Complaint, these Company insiders, desperate to execute an exit strategy for themselves, embarked on an illegal course of conduct to sell shares of the Company in a public market.
The Complaint further alleges that Defendants, realizing that institutional investors who normally buy in IPOs would be reluctant at best to purchase Vonage shares as-priced, pre-sold at least 13.5% of the Company's IPO shares to Company customers in violation of NASD Rule 2310. NASD Rule 2310 requires that a company recommending the purchase or sale of its securities to a customer must have a reasonable basis for believing that the recommendation is suitable for the customer. The Complaint also alleges Defendants had no such reasonable basis in this case and improperly crammed investors into the Vonage IPO regardless of their suitability.
The Complaint also contends that the Underwriter Defendants violated the securities laws because they allowed this illegal and improper action to continue. The Underwriter Defendants, the Plaintiff claims, had an obligation to ensure that Vonage had complied with NASD Rule 2310 in setting up and administering the accounts of customers purchasing in the IPO. According to the Complaint, however, the Underwriter Defendants had little or no incentive to ensure that customer participants in the IPO were suitable. Instead, the Complaint alleges they were motivated by the tens of millions of dollars in fees they would receive from a successful IPO. Furthermore, according to the Complaint, Vonage had agreed to indemnify the Underwriter Defendants against certain liabilities relating to the customer pre-sale program; among those liabilities was the foreseeable possibility that customers who purchased in the IPO would refuse or fail to pay for the common stock allocated to them in the pre-sale.
As a result of this alleged illegal conduct, shares of Vonage sold in the IPO declined more than 30% in the first seven trading days. The decline in value of these shares has been exacerbated by many Vonage customers who participated in the pre-sale but are now refusing to pay for their shares.
If you purchased Vonage common stock during the Class Period, you may, no later than August 1, 2006, move to be appointed as a Lead Plaintiff in this class action. A Lead Plaintiff is a representative, chosen by the Court, that acts on behalf of other class members in directing the litigation. The Private Securities Litigation Reform Act of 1995 directs Courts to assume that the class member(s) with the "largest financial interest" in the outcome of the case will best serve the class in this capacity. Courts have discretion in determining which class member(s) have the "largest financial interest," and have appointed Lead Plaintiffs with substantial losses in both absolute terms and as a percentage of their net worth.
If you have sustained substantial losses in Vonage during the Class Period, please contact Spector, Roseman & Kodroff, P.C. at classaction@srk-law.com for a more thorough explanation of the Lead Plaintiff selection process. If you have relatively small losses, your ability to participate in any recovery will be protected by the Lead Plaintiff(s), and you need take no affirmative steps at this time.
If you wish to join this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Robert M. Roseman, toll-free at 888-844-5862 or e-mail at classaction@srk-law.com. For more detailed information about the firm please visit its website at http://www.srk-law.com.
Spector, Roseman & Kodroff, P.C., located in Philadelphia, Pennsylvania, concentrates its practice in complex litigation including actions dealing with securities laws, antitrust, contract and commercial claims. The firm is active in major litigation pending in federal and state courts throughout the United States. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm as lead counsel in numerous major class actions involving violations of the federal securities laws and the federal antitrust laws, and consumer fraud. As a result of the efforts of the firm, and its members, hundreds of millions of dollars have been recovered through judgments and settlements on behalf of thousands of defrauded shareholders and companies.
SOURCE: Spector, Roseman & Kodroff, P.C.
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ckudrna
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PostPosted: Wed Jun 14, 2006 1:47 pm    Post subject: Reply with quote Back to top

Only a very small portion of people are non payers. The class action suits, which do not have lead plaintiffs yet, would be for those people who lost money on the stock, and foolishly sent their money in without all the claims of illegality directed at the investment banks sorted out first.

If you paid and lost money, you are more than welcome to join one of the class action suits. I personally, would much rather have my original money than to deal with some class action suit.
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