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Vonage Vows to Pursue Customers Who Renege on IPO

Posted by ryuzaki0 on from the or-else dept.

kamikaze-Tech writes "As its shares continued to sink following its initial public offering last week, Vonage Holdings Corp. (VG) said it plans to hold Customers who promised to buy IPO shares to their pledges. In a WSJ article posted in the Vonage Forums; a Vonage spokeswoman said Wednesday the company will pursue payment from customers who renege on their agreements to pay for the botched IPO shares. Shares of Vonage, which offers Internet-based phone service, immediately plunged from the $17 IPO price, and they closed Wednesday at $12.02 in 4 p.m. "If they don't pay, we will reserve our right to pursue payment," said Brooke Schulz. She added that speculation that the company intends to buy shares back from disappointed investors are false. "They are taking a risk if they choose not to pay," she said."

2 of 200 comments (clear)

  1. Re:Sued the customers, now sue the owners by FidelCatsro · · Score: 1, Offtopic

    Mettalica probably don't own any shares in anything , they prefer to sell out

    --
    The only things certain in war are Propaganda and Death. You can never be sure which is which though
  2. Re:Let's piss off investors and potential sharehol by Tekzel · · Score: 0, Offtopic

    Its no suprise it was pretty bad, they are pretty bad. I had them for a little while (was unsatisfied with AT&Ts VOIP offering after a year so tried Vonage). Was with them less than a month and the service and support was so bad I had to cancel, it was basically unusable and the support was WORSE than the service :). Switched to Comcast VOIP and haven't had a single problem in 2 months, its as good as a land line (at least). Basically, I would say Vonage was the worst mistake I have made in a long time, except the fact that they did give me a full refund (cancel in under 30 days), so have to give them props for that at least.