Spongetech Delivery Systems, Inc. (fka SPNGQ)

[cowtown jay]

Another relevant SEC Litigation Release, dated today, causes me an even greater problem with Paul Kisslinger's Response to Metter's Opposition. My question is, did Kisslinger provide Judge Levy with enough information to render a decision in the best interest of the victimized shareholders?

My opinion is that he did not, and that the Commission is continuing to hide their failures to protect the investing public by abusing the judicial system.

Kisslinger's Response to Metter's Opposition relies in part onSEC v. Contorinis, 743 F.3d 296, 301, 307 (2d Cir. 2014, and is quoted on page 10 of Kisslinger's Response, as follows.

"[U]njust enrichment may also be prevented by requiring the violator to disgorge unjust enrichment he has procured for the third party. As our case law indicated (and as our opinion here confirms), when third parties have benefitted from illegal activity, it is possible to seek disgorgement from the violator, even if that violator never controlled the funds. The logic of this … is that to fail to impose disgorgement on such violators would allow them to unjustly enrich their affiliates….[it] serves disgorgement’s core remedial function of preventing unjust enrichment."

Judge Levy, I'm here to tell you that Kisslinger has NO INTEREST in preventing unjust enrichment to criminals, at shareholders' expense. The relevant SEC Litigation Release (http://www.sec.gov/litigation/litreleases/2015/lr23348.htm), dated today, is proof of that, and concerns Mr. Pawel Dynkowski, who was partnered with Mr. Gerard D'Amaro. Mr. D'Amaro testified as to issues regarding SpongeTech, and he also received several stock issuances of SpongeTech shares, as I detailed in a previous submission to Judge Bernstein.

Kisslinger was then the lead attorney in the case regarding Dynkowski and D'Amaro, and he has shown no interest in preventing their unjust enrichment at shareholders' expense. The SpongeTech stock distribution network was clearly defined, yet Kisslinger has made no effort to disgorge any of them of their ill-gotten gains. The only Regulator who HAS filed charges was the Investment Industry Regulatory Organization of Canada.