The Company believes that the staff may also recommend naming one or more current and former officers of the Company as defendants in the proposed lawsuit.
Ever wonder why the deal with RockTenn was so one sided with JBI, bending over and agreeing to pay the whole nut and then some? JBI agreed to pay for the complete building buildout, pads, tanks the whole 9 yards,huge discount to fuel, revenue sharing agreement - and who knows what else (maybe lunch for the entire Rocktenn company for the next ten years)
It's because they were negotiating from a position of weakness. On July 14th JBI received the Wells notice. On July 14th JBI bent over and gave away the farm and also signed the letter agreement with RockTenn.
Coincidence, I think not.
On July 14, 2011, the Securities and Exchange Commission's (“SEC”) Division of Enforcement issued a "Wells Notice" to the Company indicating that the staff intended to recommend that the SEC file a civil lawsuit alleging that the Company violated certain provisions of the federal securities laws.
nothing in this Agreement is intended to supersede, limit or in any way modify the indemnity in the Letter Agreement between the Parties dated July 14, 2011
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