And the Shareholder suits haven't even started yet
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.
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| || |said by FFH:If Vonage has only about $155 million in cash, how will they pay it and keep operations going at their ridiculous ad rate expenditures?
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.
Firing Citron would be a good idea. Not sure if any manager with brains would want to run this loser.
Saving the world keeps me busy. However, I find Earth very primitive from my home planet of Krypton.
Re: And the Shareholder suits haven't even started yet
said by supergirl:$98 million of this is already set aside:
If Vonage has only about $155 million in cash, how will they pay it and keep operations going at their ridiculous ad rate expenditures?
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.
Re: It's kind of funny.....
said by AlsknSnoBals:Well... yes, why would you go to the trouble of suing someone who didn't have any money. Its the way that industry works. Those making money get sued (a lot).
It's kind of funny that nobody took notice of Vonage until they became successful. I would be willing to bet they never had a patent infringement until they started making money, which the telcos hate.
| || Tell me about it VerIZsuen has had a stick up its backside since Vonage took most of their subscribers. This is just VZ trying to re-coop their loss instead of being competitive in the marketplace. The Big 3 had it in for Tucker because he was making a safer car then they could for an afordable price. Safety Glass, Disc Brakes, and pop out windows to name a few of Tucker's innovative ideas. These made the car impressive, and of the entire run of cars; nearly all of them are drivable to this day (and are driven often). This isn't the only time the big 3 went after the little car maker. They went after one of their own designers with threats and ruined his company, life, and reputation. The DMC and Bricklin SV-1 both were put of business by shortsighted Car executives who wanted the big bucks. VZ, Sprint, AT&T, and others are looking to kill competition/diversity, and fair market practice just because they are losing money. Grow up and get a life. Stocks are risky live with it instead of suing. The pledge should state "The home of the sue happy and proud."|
said by GilbertMark:Dont count on it.
Vonage you better not let me down! I have proclaimed die Vonage die everytime this story pops up. I will consdier this my Christmas present if you disappear in the next few weeks.
vonage seems to be run by relatively intelligent people. They were smart enough to put money aside, and still have a profit margin, after several lawsuits.
Their stock may be down; but i'm looking for it to return.
Anyone have several million I can borrow, to buy up tons of vonage stock?