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NervesO
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Joined: Sep 12, 2006
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PostPosted: Sun Oct 22, 2006 11:34 am    Post subject: What's next for IPO stuckees who haven't ponied up yet? Reply with quote Back to top

I'm one of them. Duane Morris wouldn't accept my offer of 1/2.

Is anybody out there in a similar postion?

Where, when and how does arbitration take place?
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maverick1
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PostPosted: Tue Oct 24, 2006 4:06 pm    Post subject: the will settle for 2/3 Reply with quote Back to top

I've worked with Duane Morris and they will settle for 66% if you are reasonable with them. In my case it is a significant amount of money, but really don't have time for arbitration. They will spend a fair amount of time researching you specific case and I kept it very professional.

In the future I will join any Vonage class action that is filed and see where that goes. This was definitely a shady deal by all measures.

I'm also actively changing my Voice service to comcast or anything other than Vonage (even if it is more expensive.) In the long run - I'm the customer profile they want and this matter will cost them my business and my recommendation to all my associates.

I hope they enjoy their money.

Mav
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audiotron
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PostPosted: Tue Oct 31, 2006 10:32 am    Post subject: Reply with quote Back to top

My friend just settled with them (I refused to do so) for 65%. The law firm told my friend (they claimed he bought 300 shares) that they will seek arbitration and they are working with the stock market to set up arbitration. He was happy to have it over. I refuse to settle.

Since most people did not pay, NASDAQ and VG will figure out the best way to arbitrate. think about it. There are many 1000s of people that need to go to arbitration. Obviously, VG would want to arbitrate in blocks and the user would rather arbitrate individually.

My only concern is that VG and NASDAQ strike a deal that hurts the individual since NASDAQ probably doesnt want to hear 100 arbitrations. .

I also received a letter today stating that UBS assigned the claim to DSP, a WHOLLY OWNED SUBSIDIARY OF VG. Just as we suspected. VG picked up the tab and the brokers assigned the claim to VG. Bastards

This raises an interesting point (which I will argue at the arbitration). The agreement I purported to execute with UBS clearly stated that arbitration is the only way to go and does not mention that the debt can be assigned. Among other arguments, I will argue that the assignment is illegal and VG has no standing to collect.

I would also point out that the law firm told my friend that they believe this is s slam dunk and they will collect from everyone in arbitration. I have the screenshots showing my allocation is zero. I would like to see them get over that one!

I am sharing my strategy so everyone can benefit.

Finally, I canceled VG. When the rep asked why, I explained that I felt defrauded and that if J Citron wanted to know more he should call me.

This whole thing is ironic. They claim I bought 200 shares and their loss was approx 1000 dollars. That is three years worth of service and a lost customer.
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