I have a arranged for 3 people to close their accounts on my behalf to "pay" for the money I lost because UBS locked vonage ipo customers off their site at the open.
If you are a victim, please let me know how much money you lost as a result of UBS incompetence and why. Then we can pair you up with vonage customers and close enough accounts to make up your loss.
Vonage is on the hook for that money.
I was allocated 800 shares. at around 9:40 with the stock at 17, i logged in to my UBS account. There were no quotes, and trading was entirely disabled. I tried market orders, limit orders.
So I called in. After waiting on hold, i got a print at 16.24. The manager explained that the website was down and no vonage ipo customers could enter orders or see quotes on the website, so customer support was backlogged with frantic customers.
I received no evidence or confirmation of my print for 24 hours, when the website finally showed the execution. I called in to argue for a price adjustment. The internet services manager told me she had adjusted my print to 16.75 (I have her name and the time of the call).
So Vonage will probably slap collection on me, suspend my service, maybe even zing my credit. Here's my message to you Vonage:
FUCK YOU.
I'm not angry the stock went down. I'm angry that i was enronned into eating a tanking stock, lied to about an adjustment, and then made out to be a whining asshole that doesn't want to eat the loss.
I could give two shits about eating a 600 dollar loss (76x800). What I do care about is being mugged, which is what UBS did here.
If anybody else had a similar experience, let me know. I would really like to initiate a class action suit.
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I have a arranged for 3 people to close their accounts on my behalf to "pay" for the money I lost because UBS locked vonage ipo customers off their site at the open. If you are a victim, please let me know how much money you lost as a result of UBS incompetence and why. Then we can pair you up with vonage customers and close enough accounts to make up your loss.
Vonage is on the hook for that money. I was allocated 800 shares. at around 9:40 with the stock at 17, i logged in to my UBS account. There were no quotes, and trading was entirely disabled. I tried market orders, limit orders. So I called in. After waiting on hold, i got a print at 16.24. The manager explained that the website was down and no vonage ipo customers could enter orders or see quotes on the website, so customer support was backlogged with frantic customers. I received no evidence or confirmation of my print for 24 hours, when the website finally showed the execution. I called in to argue for a price adjustment. The internet services manager told me she had adjusted my print to 16.75 (I have her name and the time of the call). So Vonage will probably slap collection on me, suspend my service, maybe even zing my credit. Here's my message to you Vonage: FUCK YOU. I'm not angry the stock went down. I'm angry that i was enronned into eating a tanking stock, lied to about an adjustment, and then made out to be a whining asshole that doesn't want to eat the loss. I could give two shits about eating a 600 dollar loss (76x800). What I do care about is being mugged, which is what UBS did here. If anybody else had a similar experience, let me know. I would really like to initiate a class action suit.