- Report: #3978
Report - Rebuttal - Arbitrate
Complaint Review: Verizon and Northpoint DSL
Verizon and Northpoint DSL, New York U.S.A.
Verizon Executives are Very Dishonest .. Verizon lied by pumping up Northpoint NPNT stock, false promisees to shareholders
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Dear Sirs or Madam: We would like to formally make a complaint against Verizon and Northpoint DSL , mainly Verizon http://www.verizon.com and http://www.northpointcom.com
We purchased and bought much of Northpoint DSL stock because Verizon indicated that they were purchasing 55% of Northpoint which caused us to invest heavily in Northpoint DSL. By having Northpoint past or present, Verizon would have been able to offer DSL technology to many customers like us of whom have been falsely promised DSL numerous times by Verizon and then on other occasions told we may never get DSL which is a disgrace because they lied about merging with Northpoint because they need help with their DSL expansion but yet they appeared to have attempted to cause Northpoint to go into bankruptcy on the same token.
We feel extremely disgraced and lied to by Verizon by pumping up a stock Northpoint NPNT and promising the shareholders a NEW NORTHPOINT in turn canceling a merger and not paying the 800 million promised by claiming adverse change in Northpoint which is a blatant lie.
Northpoint has kept in pace with the other DSL Providers Covad COVD Rythms RTHM etc and have not adversely changed anymore then the rest of the Tech Stocks of which mainly due to Market condition such as Presidential Election Recounts etc.
Verizon promised all shareholders a $2.50 payment for each share they owned of the high speed internet provider Northpoint. Verizon made mega statements to the press and to investors by way of the internet and hard copy releases. We feel that there is some unfair practices going on between these two companies mainly Verizon of which is adversely impacting Northpoint NPNT investors and the entire DSL world by dropping a DSL Merger which would be clearly beneficial to both parties alike.
Rumor has it that Verizon promised a merger in August of 2000 with the nearly criminal intenet to due exactly what they did to Northpoint cancel the merger agreement, which would cause the stock NPNT Northpoint to become extremely distasteful and a big negative resulting in investors selling Northpoint which occurred on the Verizon Cancellation causing the stock Northpoint NPNT to loose 80% of its value the following business day because of Verizons dirty wrongful monopoly deeds they committed against everyone involved the communities that would have been able to buy DSL quicker which is not available by Verizon. This was the only adverse change in Northpoints finance, Verizon intentionally canceling a merger to attempt to bankrupt Northpoint to obtain all their DSL equipment already located within Verizons buildings.
Many shareholders and customers alike that have their childrens college funds within Northpoint NPNT are very saddened by the false promises and unfair practices by Verizon. Please immediately initiate an investigation and take action to assist Northpoint and Its Shareholders of which have been SEVERELY impacted by these unfair practices to avoid our kids college fund being further stolen by these two companies mainly Verizon.
Some rumor had it that Northpoint would be dropped by Verizon and in turn Verizon would can control of Northpoint DSL technology and equipment of which is already installed in Verizons Central Offices, after Northpoint either goes bankrupt or through a hostile takeover down road when Northpoints stock is at pennies which is presently is. Please, please, please look into this matter, contact these companies and research this matter further and take action and contact us of your findings to ensure that we and the many many others involved arent being further violated by Verizon and their unfair practices and attempts to smash and eliminate wrongfully a direct competitor of which they falsely promised to merge with.
Please forward this to the correct office if you are not fully capable of handling this matter and we look forward to hearing from you soon and seeing our complaint on your website etc. You have our permission to post this complaint anywhere as well as contact Verizon to inquire why they nearly criminally conducted themselves within this unprofessional and horrible manner.
The cause of Verizons false promises and overt actions have caused us and many other to loose many thousands of dollars and experience emotional distress etc.
There was absolutely no legitimate reasons for Verizons termination of Merger agreement, even expert analysts indicate that Northpoint didnt not cause adverse decrease in their stock and that market conditions and other variables such as Presidential Election and in general a overal decrease in the tech sector.
Sadly, J Saladino Mount Sinai, NY, 11766 1 516 848 4070
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This report was posted on Ripoff Report on 12/05/2000 12:00 AM and is a permanent record located here: http://www.ripoffreport.com/r/Verizon-and-Northpoint-DSL/New-York/Verizon-Executives-are-Very-Dishonest-Verizon-lied-by-pumping-up-Northpoint-NPNT-stock-3978. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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