Plastic2Oil Inc (PTOI)

[Johnik]

"That indicates to me that there is a statute of limitations governing SEC enforcement actions."

Agreed. As required by the US Code versus any SEC rule. And as measured from "from the date when the claim first accrued".

How would you interpret that phrase? Does the claim accrue as of the date of the violation or the date that the court determined the validity of the claim?

As this is a non-issue at present, I have not bothered to look into it specifically, but I doubt claim accrual has anything to do with any determination by any court (otherwise the accrual caveat would swallow the rule).

In simplistic terms, I would stake my guess that accrual would begin at the date of the alleged violation, subject to exceptions. Lets say, for example, that the potential wrongdoer conceals the violation from public scrutiny. Under those circumstances, my guess is that the limitations period would not commence until the violation was discovered, or reasonably should have been discovered, by the SEC. This is, admittedly, my uneducated guess. By all means, correct me if you find information to the contrary.