Plastic2Oil Inc (PTOI)

[scion]

JBI Class Action Lawsuit
JBI, Inc.,

This action is brought on behalf of all purchasers of the securities of JBI, Inc. during the period August 28, 2009 and July 20, 2011, inclusive (the “Class Period”). The Complaint charges the Company and certain of its executive officers with violations of sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and S.E.C. Rule 10b-5. The Complaint alleges defendants misrepresented and/or failed to disclose: (1) that the media credits acquired by the Company in connection with the acquisition of JavaCo, Inc. were substantially overvalued; (2) that the Company was improperly accounting for acquisitions; (3) that, as such, the Company's financial results were not prepared in accordance with Generally Accepted Accounting Principles; (4) that the Company lacked adequate internal and financial controls; and (5) that, as a result of the above, the Company's financial statements were materially false and misleading at all relevant times

Complaint
http://www.glancylaw.com/pdf/JBI.pdf

http://www.glancylaw.com/leap_case.php?caseid=303