The New York Post is reporting (see here) that a law firm is trying to put together a class action of those who purchased shares in Vonage’s IPO through its directed share program. As discussed here and here, the marketing of the program ran afoul of some technical SEC requirements.
Vonage Class Action in the Works
RSS - Posts
Why doesn’t the SEC have rules permitting “harmless” error? It seems to me that easily rectified technical violations should be permitted to be rectified without liability on the part of the issuer.