Originally Posted by
Los Tiburones
Latest from Ambulance Chasers Monthly;
Kantrowitz, Goldhamer & Graifman, P.C. Announces Notice Of Class Action Filed Against Spongetech Delivery Systems, Inc.
Wednesday, 28 Oct 2009 02:14pm EDT
Kantrowitz, Goldhamer & Graifman, P.C. announced that notice is hereby given that a lawsuit has been filed in the U.S. District Court for the Southern District of New York on October 28, 2009, on behalf of a plaintiff and a proposed class of purchasers of securities of SpongeTech Delivery Systems, Inc. during the period April 15, 2008 and October 5, 2009, inclusive (the Class Period). The complaint alleges that SpongeTech and certain officers and directors violated Sections 10(b), 14(a) and 20(a) of the Securities Exchange Act of 1934 by making false and misleading statements and omissions concerning SpongeTech's financial statements. It also alleges that the Company engaged in financial transactions with related entities owned or controlled by officers and/or directors of the Company and that said officers and/or directors of the Company engaged in manipulation of the Company's stock. The Company has been notified by the SEC that it is the subject of a formal investigation. In addition the SEC has temporarily suspended trading in the Company's stock.
Ah, ... oops!
..."by making false and misleading statements and omissions"