Contact Information: K. Lynn Nunn FEDERMAN & SHERWOOD 10205 North Pennsylvania Avenue Oklahoma City, OK 73120 Email to: kln@federmanlaw.com www.federmanlaw.com
Federman & Sherwood Announces That a Securities Class Action Lawsuit Has Been Filed Against SpongeTech Delivery Systems, Inc. (OTCBB: SPNGE)
| Source: Federman & Sherwood
OKLAHOMA CITY, OK--(Marketwire - October 16, 2009) - On October 9, 2009, a class action
lawsuit was filed in the United States District Court for the Southern
District of New York against SpongeTech Delivery Systems, Inc. (OTCBB : SPNGE ). The complaint alleges violations of federal securities laws,
Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule
10b-5, including allegations of issuing a series of material
misrepresentations to the market which had the effect of artificially
inflating the market price. The class period is from April 15, 2008
through October 5, 2009.
Plaintiff seeks to recover damages on behalf of the Class. If you are a
member of the Class as described above, you may move the Court no later
than Tuesday, December 8, 2009, to serve as a lead plaintiff for the Class.
However, in order to do so, you must meet certain legal requirements
pursuant to the Private Securities Litigation Reform Act of 1995.
If you wish to discuss this action, participate in this or any other
lawsuit, or have any questions or concerns regarding this notice, or
preservation of your rights, please contact: