Seems like some customers are complaining since the stock tanked on it’s first day after the Vonage IPO.  One must wonder if they’d be complaining that they didn’t want any shares after the fact if the stock had gone up:

Vonage Holdings Inc. hoped to show its Internet telephone customers how much it valued them by making many eligible to buy shares in the company’s public offering last week. The idea backfired: Customers who lined up to buy those first public shares got burned, as the price of the stock has fallen 26 percent.

Now many are outraged, not only by the stock’s poor performance but also by what they say were glitches in Vonage’s unusual effort to include customers in its IPO.

Nina Shreiber, a talent manager in New York, was described in an article on TheStreet.com yesterday as trying to place an order for 5,000 shares but was told she qualified for none — until shares started trading and she was told she owned 1,300, which she says she doesn’t intend to pay for.

"I’m confident in my claim that I don’t have any," Shreiber said in an interview. She added that she had no plans to cancel her Vonage phone service, but other customers on the company’s online chat board were threatening yesterday to do just that. The stock they agreed to buy at an initial offering of $17 a share closed trading yesterday at $12.50.

Vonage officials declined to comment yesterday on frustrated investors not wanting to lay claim to ownership in the stock, citing a 25-day silent period. But in its S-1 filing with the Securities and Exchange Commission, Vonage said it would reimburse its underwriters for any customers who bailed out on paying for stock.

"We have agreed to indemnify the underwriters against certain liabilities, including those that may be caused by the failure of Directed Share Program participants to pay for and accept delivery of the common stock which had been allocated to them," the company said in its filing.