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.

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  1. identicon
    Thomas, 2 Jun 2006 @ 1:11pm

    Re:

    I was a customer, but 1 month after the warranty expired on my equipment, I could no longer connect to them. I called their tech support, who had me re-start my cable modem and vonage box, when that didn't work, he told me my equipment was ouot of warranty, and if I would like, he would ship me another one at full price, plus shipping. I opted to drop them in favor of sunrocket, who even give you 2 free cordless phones. I had a minor problem setting up their equipment, but their tech support staff was fantastic and very honest.(the problem was an issue on their end.)

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