You took my shares and then refuse to pay?

Posts: 3 · New Forum Member Joined: Jun 17, 2006 Posts: 3

I've been reading this forum and am just baffled by the attitudes here. I was able to participate in the offering, and debated both with myself and my wife how much to invest. I like the service Vonage offers and felt like it was a good investment in the long run, but it seemed like a risky investment. And there was that urge to jump in big and try to make a big play if the stock did well. But this didn't seem like the right gamble, and rather than not participate, I chose to set my allocation at simply 100 shares. $1700 was the amount of money I was willing to lose if things went in the worst way.

Well, I admit that I was disappointed when I found that I wasn't allocated any shares. I wanted some, otherwise I wouldn't have agreed to the shares in the first place. So there I am, disappointed that I didn't get my 100 shares, and trying to see how others fared. I come here and find people who are complaining that because they only got 1/3 of the 5000 shares that they wanted. OK, me and my 100 shares were obviously piddly, I figured there were a lot more serious investors than I. Boy, I guess I couldn't have been more wrong.

Maybe I felt a little pang of relief when the stock started dropping. My initial feeling was "fine, now I can save a few bucks and still get the stock I wanted". But when people started making excuses why they shouldn't have to pay for their allocations, it made me angry. The same people who were so hungry for shares that they edged me out on this bet in the first place were now reneging on their bet. You clicked a thousand checkboxes that said you knew exactly what you were doing. If the stock had gone up, I'd have known that I missed out because I hadn't wagered enough. But when it went down, those people who were willing to bet big suddenly scattered like cockroaches. You took my shares, then refused to pay for them.

The funny thing is that I was interested in picking up some of the stock after it had dropped a bit. But now that so many people are trying to escape their obligations and kicking up dust with these class action suits, I'm not willing to buy at any price. Any judging by the plummeting stock price, neither is anyone else. So to those who aren't willing to pay: you made a bet, you lost, pay up. If you don't, then you're making another bet, one that you're probably going to lose. And even if you don't, you've hurt yourself and everyone else in the process. It's nothing to be proud of. You were greedy, and dishonorable when the bottom fell out.

Just think, if all those people who thought they were owed a pot of gold had instead invested at their true ability, this stock might still be at the opening price or higher.

Posts: 29 · Vonage Forum Junior Joined: May 30, 2006 Posts: 29

You're preaching to the choir. Now you wil hear the rath of ckundra and audiotron as they give you their X-Files version of why this stock tank, why the evil overloards of the brokerage firms, Vonage management, and bankers purposely shorted this stock so it will tank. No matter what you tell them, they will come up with some lame excuse why they shouldn't pay. Just be lucky you didn't get your 100 shares, and hope your Vonage servive will still be around six months from now.

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

Bunky, I support your view 100%, Not paying for the shares you took a chance on buying simply because the stock went down instead of up is just plain wrong, and I really hope that no "investor" will be able to get away with that.

I feel very, very sorry for every single investor who has lost money on Vonage. 43.5% in three short weeks is extremely brutal. Yes, this turned out to be an investment probably worse than even the worst case scenario most investors could imagine, and I am sure those who still hold their stocks wonder if it can possibly get any worse than this.

However, all investors were told about the potential risks, and I think all investors need to take responsibility for their actions, even when that means paying for shares that has lost such a significant percentage of its value.

The loss will hurt, but by doing the right thing these investors can still look themselves in the mirror.

Hopefully, one day in the future they will end up on the winning side of the table, making back their losses with interest. What goes around comes around...

Posts: 3 · New Forum Member Joined: Jun 17, 2006 Posts: 3

I'm glad to hear that there are some reasonable people here, I guess the outrageous tends to overshadow the majority.

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

Your argument fails.

You state that since I knew what I was doing I must therefor pay.

That is flawed logic.

Every day entities enter into "contracts" to purchase services, good or whatever. When you sign the contract, you BELIEVE you know what you are doing. What happens when there was fraud? What happens when there is deceit? What happens when what you believe you were getting turn out to actually be false?

This is my problem. And my argument is even stronger with the slwe of lawsuits that were filed immediately after the IPO (unprecedented).
Before a lawyer can file a lawuit in court there is a rule called "11." Basically, it states that lawyers cannot file frivilous lawsuits.

So assume that at least 20% of these lawsuits have merit and that vonage did in fact perpetuate some kind of fraud. Why would anybody pay is beyond me.

I have the $$$ set aside and once Vonage is cleared of wrongdoing, Ill gladly pay. But until then, I will not give money to crooks and thieves.

So get off you moral horse and look at the facts.

Oh and by the way, put on top of fraud and deceit... STEALING.

Thats right. Verizon claims that Vonage has been stealing the Intellectual Property. Was stealing disclosed in the prospectus? Do you think that is a material omission?

http://news.yahoo.com/s/nm/20060619/bs_nm/telecoms_vonage_verizon_dc_3

Yours,
Woo Hoo Woo Hoo Hoo (A new happy Sun Rocket subscriber)

Posts: 29 · Vonage Forum Junior Joined: May 30, 2006 Posts: 29

LOL. I told you audiotron or ckundra would pipe up. Frivilous lawsuits? Are you kidding? That's 90% of the lawsuits that are filed these days. I burned my lip on a HOT cup of coffee, give me $10 million. I killed someone and the cops beat the crap out of me. Let me sue for mental anguish for $20 million. You're holding back your payment on wild presumptions that you and ckundra conjured up. Give an ambulance chaser an excuse to file a lawsuit, and they'll do it. I thought you got your money back anyway. So why do you care?

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

Not only didn't pay but left and joined a different provider. Why are you even on this forum? Take a hike already!

If your not participating in the DSP you have nothing to say, your comments are meaningless.

I think your buddy ckundra said something like this to another forum member not to long ago.

Posts: 3 · New Forum Member Joined: Jun 17, 2006 Posts: 3

audiotron wrote:

Every day entities enter into "contracts" to purchase services, good or whatever. When you sign the contract, you BELIEVE you know what you are doing. What happens when there was fraud? What happens when there is deceit? What happens when what you believe you were getting turn out to actually be false?

You're right in one sense: it's clear that you have no idea what you're doing.

Posts: 476 · Posted: Mon Jun 19, 2006 10:33 am Post subject:

audiotron wrote:

Oh and by the way, put on top of fraud and deceit... STEALING.

Thats right. Verizon claims that Vonage has been stealing the Intellectual Property. Was stealing disclosed in the prospectus? Do you think that is a material omission?

http://news.yahoo.com/s/nm/20060619/bs_nm/telecoms_vonage_verizon_dc_3

Yo, genius! (snicker) Yes, these types of claims were disclosed. Yet another bit of evidence that you failed to do your due diligence and at least read the prospectus if not perform other research:

Quote:

We may be subject to damaging and disruptive intellectual property litigation.

We have been named as a defendant in three suits currently pending that relate to alleged patent infringement. See "Business—Legal Proceedings—Patent Litigation." In addition, we have been subject to other infringement claims in the past and may be subject to infringement claims in the future. We may be unaware of filed patent applications and issued patents that could relate to our products and services. Intellectual property litigation could:

• be time-consuming and expensive;

• divert attention and resources away from our daily business;

• impede or prevent delivery of our products and services; and

• require us to pay significant royalties, licensing fees and damages.

Parties making claims of infringement may be able to obtain injunctive or other equitable relief that could effectively block our ability to provide our services and could cause us to pay substantial damages. In the event of a successful claim of infringement, we may need to obtain one or more licenses from third parties, which may not be available at a reasonable cost, if at all. The defense of any lawsuit could result in time-consuming and expensive litigation, regardless of the merits of such claims, and could also result in damages, license fees, royalty payments and restrictions on our ability to provide our services, any of which could harm our business.

Posts: 1123 · Vonage Forum **MVM** Joined: May 26, 2005 Posts: 1123

I just heard a loud, "SMACK". :-D