Spongetech Delivery Systems, Inc. (fka SPNGQ)

[loanranger]

" before any TA is gagged the SEC has to approve this order because gagging the TA without the SEC's
consent would be in violation of the Freedom of Information Act. "

Malarky.



"It is not solely up to the company and Spongetech couldn't just tell the TA they are not allowed to say anything about the share structure"

Sure they can.



"Further, the SEC clearly states that in order for a TA to be gagged, a company must file Form "CT order" (which Spongetech did in 2008)"

More Malarkey. (There are no SEC rules that deal with the gagging of a T/A and the only 2008 CT order granted to SPNG dealt with the terms of the contracts with the Yankees and Mets.)



"the SEC will not allow the gag order unless the company clearly demonstrates that the gag order is "in the best interest of the public/shareholders" (taken directly from the SEC website)."

No, it's not. And you can look until you're blue in the face and you won't find it.



I'll continue if anybody is interested, but you should get the idea by now. Not only was this post copied and pasted from a previous post, but the original post was from June 16th, part of a larger post full of equally unsupportable nonsense.