Replies to post #128377 on Plastic2Oil Inc (PTOI)

[LazySusan]

This latest one really seems like a desperation move. A last gasp by someone to try and stop the upward pressure on the stock.

With the RKT deal signed, its a little like throwing a bucket of water on a forest fire.

Not going to work, and as you said Paula, there can only be one class action, if one gets organized at all.

I'm thinking, not likely.

[micham2012]

IMO, this is correct. Only 1 lawsuit. "Investigations" by class action plaintiff's firms is a euphenism for "client(s) wanted."

[stocker11]

Although I'm quite familiar with civil suits I've had little to do with class actions. I've been involved in only one in Canada and that was not certified - the requirement standards are very strict.

Is there a minimum number Plaintiffs required to qualify for a CA in the U.S.? With what I know this does not qualify either by circumstances nor by numbers.
There are clearly problems with the Plaintiffs case other than the lack of Plaintiffs.

1) The media assets were clearly shown as media assets - I'm not sure anyone would base there decision to buy shares in a company based on media assets.
2) The Plaintiff bought her shares about 1 year after the company restated its financial report so if she said she bought shares based on the media asset mistake she has little to no chance of succeeding because the asset had been removed from the financial reports long before the time of purchase.
3) There is no loss as she has not sold her shares.

If the the courts ruled that the complaint is founded in spite of defense's expected arguments in 1, 2 and 3 above, in Canada at least, the "paper" loss" would only qualify for a Small Claims Court Action.