So, this is the list of people that didn't heed the SEC's trading suspension nearly a year ago (Oct '09).
SpongeTech was on of only 30-some companies to get it's securities suspended from trading!
Why should the judge care if they were "too captured" and continued to fall for M&M's scam?
Oh, don't forget...these same people ignored the SEC Wells Notice in December 2009 as well.
This long list of people FAILED to grasp the harsh realities, SpongeTech was NEVER a viable company! It was a share "print house", with a lying CEO & COO/CFO!
Yes! The company and executives were cooperating. That's why they were slapped with an Obstruction of Justice CRIMINAL charge!
Yes! The company was buying back shares. That's why the O/S is 3 BILLION!
Should have listened to the SEC nearly ONE YEAR AGO!!!