Replies to post #128435 on Plastic2Oil Inc (PTOI)

[XenaLives]

The legal jargon for the class action starts on page 17 of the complaint. It alleges "The members of the class are so numerous that joinder of the members is impracticable."

This is the qualifying standard for a class action. It is up to the judge to decide if this statement is true and certify or deny the "class" of plaintiffs.

A. Numerosity: Although seldom dispositive, the numerosity requirement
has long been thought to impose a bottom line on class certification that was in the range
of 20 to 40 class members. Cox v. American Cast Iron Pipe Co., 784 F. 2d 1546, 1553
(11th Cir. 1986). The United States Supreme Court has imposed a minimum limit of 15
class members.

http://www.beasleyallen.com/webfiles/Class%20Actions%20Plaintiff%27s%20Perspective.pdf

Here's an interesting article:
http://www.litigationps.com/litigation_postscript_per/2011/01/count-your-plaintiffs-before-certification-hatches-because-class-size-matters-in-ways-you-might-not-.html

The weakness of the current plaintiff's case is one reason why there are so many trolls out there. It wouldn't take much of a claim to beat out the current one for lead plaintiff status, but the big question is how hard is it going to be to come up with enough dissatisfied JBII investors to make up a "class".

IMO - number of plaintiffs won't be significant, RockTenn agreement also helps in that regard.

[micham2012]

Only one plaintiff is required. At some point the plaintiff will seek to certify a class. If a class is certified, putative class members will have an opportunity to opt out. If they don't opt out, they will be included in the class. Occasionally, as part of the certification process, the order will provide that one must opt in in order to be included in the class (an "opt in" class), but that is rare.

Frequently, a class is "certified" for settlement purposes only. The settlement will include a release of the company and its officers and directors, and the company's goal then is to have as large/broad a class as possible. Except for such a "settlement class," the goal is obviously to defeat class certification.