Plastic2Oil Inc (PTOI)

[micham2012]

My guess is that there is only one lawsuit on file right now -- the one by the Glancy, Binkow firm, and those on the complaint with them (O'Mara, Smith). I think the other firms are trolling for plaintiffs. "Lead plaintiff" status is usually accorded to the person/group with the most shares, and "lead counsel" status will be accorded to the attorneys representing the lead plaintiff(s). If another shareholder surfaces, represented by other counsel, the fight is on.

I have my doubts that the case can be beat at the pleading stage, as the "scienter" requirement is fact intensive. But I would love to be wrong.

I hope that the company has insurance, if not for itself, at least for the individuals, so that insurance money can absorb the lion's share of the cost of defense.