Plastic2Oil Inc (PTOI)

[Rawnoc]

Genius post, as usual! To add to it:

SEC policy in every single settlement since 1972....good grief. It's meaningless.

"...effected by the S.E.C. in 1972 was the requirement that a defendant who agreed to a consent judgment “without admitting or denying the allegations of the Complaint” nevertheless agree that the defendant would not thereafter publicly deny the allegations. To this end, each of the proposed Consent Judgments now presented to this Court is accompanied by a formal written “Consent” of the defendant agreeing, pursuant to 17 C.F.R § 205.5, “not to take any action or to make or permit to be made any public statement denying, directly or indirectly, any allegation in the complaint or creating the impression that the complaint is without factual basis.”

http://www.theconglomerate.org/2011/12/is-it-unconsititutional-to-neither-admit-nor-deny-guilt.html

More from that link:

"...defendants neither admitted nor denied the allegations...desired by the defendants because it meant that their agreement to the S.E.C.‘s settlements would not have collateral estoppel consequences for parallel private civil actions"

R.I.P. other suits. Maybe you can get beg for some lawyer fees from JBII's D&O insurance, but get in line behind us.