Investors sue Vonage over IPO

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I am a Vonage Customer who was asked...

if I wanted to participate in the IPO. I read their balance sheets and their profit projections where they stated quite plainly that the Vonage management did not know when, IF EVER, the company would be profitable. In order to participate in the Vonage IPO as a Vonage customer, you had to read and agree to at least five statements that regarded your eligibility to buy. Each and EVERY one of those included language that stated you may lose some or ALL of your investment if you agreed to participate and bought shares. IT was completely open about the fact that you should not participate unless you had the bucks to lose and really liked long shots with a great deal of risk.

I decided that it was going to go badly, at best, and chose not to lose money. If any customer agreed to participate and agreed to buy the allocated shares, they must have been trying to re-live in the days of the dot.com bubble when stocks exploded upon an IPO. They were greedy and too stupid to know how to invest their money and lost it. Their bad - not Vonage's. Another indication of the stupidity of the general US population regarding money matters. I hope the class action suit falls flat on its face because it was impossible to participate without agreeing many times that you understood that you might lose it all.

Posted by: msolgeek   Posted on: 06/05/06 You are currently: a Guest | Members login | Terms of Use

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