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Forums » Vonage Owes Verizon $120 Million » And the Shareholder suits haven't even started yet
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supergirl

join:2007-03-20
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Re: And the Shareholder suits haven't even started yet

said by TKJunkMail See Profile :

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.
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Saving the world keeps me busy. However, I find Earth very primitive from my home planet of Krypton.
-Supergirl
permalink · 2007-11-16 16:15:14 · Print · Reply to this
dualsub2006

join:2007-07-18
Newport, KY

Re: And the Shareholder suits haven't even started yet

said by supergirl See Profile :

If Vonage has only about $155 million in cash, how will they pay it and keep operations going at their ridiculous ad rate expenditures?
$98 million of this is already set aside:

»pr.vonage.com/releasedetail.cfm?···D=271491

I don't recall all of the details, but the appeal or something was only allowed because they had set aside $66 million or something and then they were required to make quarterly escrow payments on top of that.

The other $22 mil or so will come out over time.
permalink · 2007-11-17 11:04:11 · Print · Reply to this
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