Plastic2Oil Inc (PTOI)

[loanranger]

"like i pointed out it's a DIVVY to the very people who own the company"

Hardly.
It's a cost to the company (check the Subsequent Events section of the 10-Q when it comes out) and it will be a teeny weeny partial recovery of any loss that a shareholder incurred on any purchases they made during the class period that resulted in a loss when sold, net of any gains they might have had on sales of shares purchased during the period which they subsequently sold.

So it's not "a DIVVY to the very people who own the company" at all.
1. All current shareholders will not participate.
2. In order to participate, claimants will have to have first lost money on sales of shares.
3. Some portion of the participants are certain to be FORMER shareholders.


There is no known definition by which that is a "DIVVY".
No company in the history of companies that has ever issued a distribution of any kind in settlement of a class action suit has had the audacity to publicly describe it as a dividend. To do so would be to be a fraudulent representation.

But it's OK for you to do it. It's just wrong.