I don't think any of that will present much of a problem for Rosen. Rosen is quoted as saying the he has NEVER had as great a positive response to a proposed class action as he has had on the SPNG case.
Written by ckirbygo: IMO, the lawsuit had major problems with it and Siegel brought its defects to the attention of Rosen. I believe no Amended Complaint will be filed and the lawsuit will be dismissed.
This is great news for Longs. I believe Rosen has seen the 10K. I believe the parties all sat down yesterday and reached this stipulation. Congrats. Just like the reverse split. Poof. Bye Bye lawsuit
They’re going to merge the two class action lawsuits into one lawsuit.
Orlan et al v. Spongetech Delivery Systems, Inc. et al Assigned to: Judge John G. Koeltl Related Case: 1:09-cv-08616-JGK
Le et al v. Spongetech Delivery Systems, Inc. et al Assigned to: Judge John G. Koeltl Related Case: 1:09-cv-09037-JGK
The Judge wants them to pick a lead plaintiff and lead attorney. Once the Judge approves the lead plaintiff and lead attorney -- an amended complaint will be filed.
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