Plastic2Oil Inc (PTOI)

[scion]

WHEREAS, in effect, the Action cannot be prosecuted against any defendant until this Court first selects a lead plaintiff and lead counsel to represent the putative class;

WHEREAS, the Parties have conferred and agreed it would be more efficient to extend the time for Defendants JBI, Inc. and John Bordynuik to answer or otherwise respond to the Complaint in the Action until after the Court’s appointment of a lead plaintiff and lead plaintiffs designation of an operative complaint or filing of an amended complaint;

WHEREAS, nothing in this Stipulation shall be construed as waiving any rights, arguments, defenses (including, without limitation, jurisdictional defenses), positions inlaw or in equity, or objections that may be asserted by Defendants JBI, Inc. and John Bordynuik with respect to the Complaint or any other complaint that may be filed in this Action.

NOW, THEREFORE, IT IS HEREBY STIPULATED AND AGREED by the undersigned counsel that:

1. Defendants JBI, Inc. and John Bordynuik are not obligated to answer, move against, or otherwise respond to the Complaint filed in the above-captioned action until the Court’s appointment of a lead plaintiff and lead plaintiffs designation of an operative complaint or filing of an amended complaint;

2. Upon the Court’s appointment of a lead plaintiff, lead plaintiff will have sixty (60) days to designate an operative complaint or file an amended complaint;

3. Upon the designation of an operative complaint or the filing of an amended complaint, Defendants JBI, Inc. and John Bordynuik will have sixty (60) days to answer, move against, or otherwise respond to the Complaint; lead plaintiff will have thirty (30) days to file an opposition to any motion to dismiss filed by Defendants JBI, Inc. and John Bordynuik; and Defendants JBI, Inc. and John Bordynuik will have thirty (30) days to file a reply to lead plaintiffs opposition.

A Proposed order is attached.

Extract -
09/13/2011 7 STIPULATION FOR EXTENSION OF TIME (First Request) by Defendants John Bordynuik, JBI, Inc., Plaintiff Ellisa Pancoe. (OMara, David) (Entered: 09/13/2011)

Doc 7 PDF file
https://viewer.zoho.com/docs/qdc5Re