How Many Vonage Customer-Investors Paid Up?

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Under Vonage logic, it is apparently a good thing when your customers suddenly lose lots of money. CNBC's Charlie Gasparino reported this morning that something like sixty to seventy percent of Vonage customers who signed up for the IPO under the company's special offer that let customers participate in the offering have paid up for their shares despite the immediate decline in share price. Gasparino said the company is happy that so many customer-investors have paid up.
There were widespread reports that customers wouldn't pay, and Vonage initially flip-flopped about whether it would take legal action to force those customers to pay for shares they had ordered. It always seemed unlikely that Vonage would actually sue customers--the cost of launching thousands of lawsuits against individual customers probably exceeded any likely recovery. But it seems that enough customers either believe that Vonage shares will someday recover the value lost in the weeks since the offering or that they were in fact obligated, either legally or ethically, to pay for ordered shares.
So congratulations Vonage. You screwed your customers. Well done.

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