In what may hold the record for fastest time for a class action suit to be filed against a recent IPO company, two groups have sued Vonage for their handling of their IPO.
“The complaints allege, among other things, that Vonage omitted and/or misstated certain facts concerning the IPO’s Customer Directed Share Program. One of the complaints additionally claims that the IPO prospectus allegedly contained misrepresentations or omissions concerning various Vonage products, including facsimile transmission capability. The Company has not yet been served with a copy of either complaint,”