said by FFH5:Vonage, which first sold shares to the public for $17 each in May 2006, also faces suits from investors. They say the company's prospectus misrepresented or omitted information about its products and the experience of some managers.
The IPO was for $17/sh and the shares are selling for $2.13/sh now. Those suits and the banks wanting their money on the loans could sink Vonage by mid year 2008.
If Vonage has only about $155 million in cash, how will they pay it and keep operations going at their ridiculous ad rate expenditures?
Firing Citron would be a good idea. Not sure if any manager with brains would want to run this loser.
