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SpongeTech Delivery Systems, Inc.

The Rosen Law Firm has a filed a securities class action on behalf of all purchasers of SpongeTech stock during the period from April 15, 2008 through October 5, 2009.

The complaint charges SpongeTech, its CEO Michael Metter and its CFO Steven Moskowitz with securities fraud for issuing false financial statements that overstated SpongeTech's revenue and income. The complaint also alleges that SpongeTech enaged in a stock manipulation scheme through RM Enterprises, an entity Metter and Moskowitz controlled.

The SEC has initiated a formal order of investigation against SpongeTech and has halted all trading of its shares. As a result of the Defendants' alleged fraud, the value of SpongeTech stock has declined markedly.

If you would like to join the class action to recover losses in SpongeTech stock, please click on the link to the right of this page =>

http://www.rosenlegal.com/join.php?id=109&text=1