Spongetech Delivery Systems, Inc. (fka SPNGQ)

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Stratford > Have you considered there might be a, group , of traders that have gotten ahold of a large amount of shares and are manipulating SPNG stock? Pump up share price make some profits, short it back down make some profits, run it up, short it down, make some profits, rinse... repeat?

Something just sounds so familiar with that what could it be.... ?

I know you read the info on these allegations against Douglas Furth and a "group" alledgedly manipulating stock they received for consulting using "short-swing profits" of some sort.... of course it is all just allegations... I am not very clear on the term short swing profits but doesnt something sound familiar to you in all of this? What is it that makes this sound so familiar? hmmm?

On May 27, 2008, as previously reported, the Company filed a lawsuit in the United States District Court, Central District of California, Case No. SACV08-00586 CJC (PLAx) alleging securities law violations and fraud against Douglas G. Furth individually and allegedly dba Millennium Consulting Group, Inc., a defunct Ohio corporation; Mark Fixler; JAG Enterprises, LLC; Michel Attias; Brendon Attias; Timothy Garlin; and various DOE defendants for disgorgement of short-swing profits in violation of the Securities Exchange Act of 1934, Section 16(b) and for recovery of damages for fraud and deceit. These defendants, collectively, refer to themselves as “the Group”. The amount of defendants’ short-swing profit liability is unknown at this time but the Company intends to engage in expedited discovery to determine defendants’ trading profits which, by statute, must be returned to the Company. The lawsuit also sought the return of one million shares of stock given to the Group Defendants as consideration for alleged consulting services which were never performed, and which allowed the Group Defendants to engage in, as the Company alleges, illegal manipulation of the Company's stock

http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=6166680-71351-76415&type=sect&dcn=0001116502-08-001559