Replies to post #273287 on Spongetech Delivery Systems Inc (fka SPNGQ)

[puppydotcom]

would the class action suits be dropped?

would not worry to much about the class actions .. more with spongy's failure to file .. thats the death strike for the commons
if the SEC moves to revoke spongy

and what comes out of the investigation .. the company and insiders can be fined million of dollars or .. worse

the SEC has something(s) bad on spongy imo .. otherwise they would not have suspended the stock or launched a formal investigation

informal investigations normally do not include suspending a fully reporting company

[TEX]

Gosh, I have *no* idea about the various legal theories/standings re class actions.

Of course, you are aware of the 15c2-11 provisions.