Another Day, Another Angle To Vonage's Bungled IPO

from the i-p-oops dept

Every day seems to bring yet another tale of ineptitude from Vonage's horrifically performing and poorly executed IPO. It began with reports of bugs in the share allocation process and then went to a flip-flop on whether or not disappointed customers would actually have to pay for the shares they'd committed to purchase, but it's a little older issue that's the source of the latest story. Vonage got dinged for a technical violation when it solicited its customers with an offer to get in on the IPO, and the company now says those errors could make the sale an illegal offering, allowing buyers to claim damages or get the company to buy back their shares. The company claims it has a strong defense against such charges, but it's inevitable that this whole thing is going to end up in court -- assuming the naysayers aren't right and Vonage can stay in business that long. This IPO has pretty much been a mess from top to bottom, and it's a fair question to wonder how much good it's ultimately going to do the company.

Reader Comments

Subscribe: RSS

View by: Time | Thread


  1. identicon
    ZA, 2 Jun 2006 @ 1:38pm

    Re:

    I have been a Vonage Customer for over 2 years. I love the service. The only problem I had was that it took too long to port my home phone number over. They did credit me back the additional month and I was satisfied. My original Motorola modem went bad and they sent me a Linksys at no charge and I haven't had a problem with them since.

    I am happy with Vonage service and have signed up a lot of others as well.

    I would imagine that someone would purchase them if puch came to shove.

    I sure hope they dion't go Gonage!

Add Your Comment

Have a Techdirt Account? Sign in now. Want one? Register here



Subscribe to the Techdirt Daily newsletter




Comment Options:

  • Use markdown. Use plain text.
  • Remember name/email/url (set a cookie)

Follow Techdirt
Special Affiliate Offer

Advertisement
Report this ad  |  Hide Techdirt ads
Essential Reading
Techdirt Deals
Report this ad  |  Hide Techdirt ads
Techdirt Insider Chat
Advertisement
Report this ad  |  Hide Techdirt ads
Recent Stories
Advertisement
Report this ad  |  Hide Techdirt ads

Close

Email This

This feature is only available to registered users. Register or sign in to use it.