VPNSecure deactivated all lifetime subscribers
I just got an email from VPNSecure saying that my account was deactivated (not that it will be). They (I don't know who) bought the company, but the previous owner didn't disclose the number of subscribers that were not paying for the service.
Here is a screenshot of the email:
https://postimg.cc/2b6krMjM
> Two years ago, in May 2023, our team acquired VPN Secure, including the technology, domain, and customer database -- but not the liabilities.
This is one of those things that might not be outright impossible or illegal, but still elicits an instinctive "wait WTF how is that fair" reaction.
So who does have the liabilities, if "lifetime" subscribers want a refund?
This is definitely a question for the lawyers. But to my eyes, that email is highly defensive. My guess is they are trying to talk people out of making a stink about this.
IANAL, so my take on this is amateurish at best, but when you buy a company you take over all their contracts, not just the ones you like. Whenever these lifetime accounts signed up, whatever terms of the account existed at the time still are valid.
So Id ask OP - do you have any of the original info from when you signed up? Any terms/conditions about the account? If you do, that would help clarify the situation.
Asset purchases exist. Notwithstanding variances from one jurisdiction to another, piabilities are attached to promisors, not property.
*liabilities
I'm almost positive that unless some other organization acquired the liabilities, then it just plain “doesn’t work that way.”
IANAL but only exception I can think of involves certain bankruptcy proceedings, where the government decides that it's in the greater-good to void the liabilities.
This seems like an issue between the company who bought the business and the original owners.
The original owners not disclosing their lifetime users shouldn't be your problem.
The new owner should seek legal action against the other company.
I'm not a lawyer, but this seems ridiculous.
I never believe those lifetime BS anyway. Don't fall for it.
Agreed. I do have a lifetime web hosting account that was purchased off of one of those same deal sites. However, the only reason I use it is because my usage of it is so minimal that I don’t really care if they ever shut it off.
Lifetime service has to either be so expensive that it’s paid for by basically an endowment (interest income on your original payment is enough to cover the cost in perpetuity) or simply a Ponzi scheme (your service is paid for by people who have signed up this year). There’s no third option (that’s sustainable).
The only other category would be situations where the service itself is now a money loser overall because growth stopped. Obviously exactly this happened to the original company and that’s how they ended up selling their assets.
For something as small potatoes as a cheapo VPN subscription, I’d be amused by anybody who wasted their time trying to sue somebody over this. I bet the company sold certain assets rather than sell itself outright. Meaning the beef of these “lifetime” users is going to be with a defunct, broke, company. Good luck forcing them to provide you with lifetime VPN service or a refund.
Lol