What VG settled were a number of law suits relating to very sleazy business practices. Fortunately, this happened on the watch of the prior CEO. If Lefar were accused of this kind of thing, I'd bail right now. Letls hope VG has learned its lesson. The way to build a great company is to have great products and build TRUST with your customers, not rip them off. Let's hope the managers behind this fiasco were fired as well.
I think building TRUST is key. Lefar's past successes in building brands at Procter and Gamble, and at AT&T in no way show a pattern of deceit. I think his track record is very good ,and built on sound business practices , not ripping people off. It starts at the top ..
Completely agree - and he does have a good track record. Transparency and trust and good products are the essentials of building a strong business in the internet era. With twitter, facebook etc. if you are doing something sleazy, you will be called out almost immediately. I wish him the best, not only as an investor but as a customer..
I'm prety sure that is why all these "uglies" are being resolved and brought out into the open at this point. They are cleaning house, getting ready for REAL earnings and better business. I believe it's already under way.