Replies to post #153690 on Plastic2Oil Inc (PTOI)

[FrankLind]

So far...we only have one side of the story.

JBI will have plenty of evidence of lack of intent.

They obviously believe they have a good case.

The Company regrets that its attempts to negotiate settlement of this dispute failed, and, in consultation with its litigation counsel and Board of Directors, looks forward to vigorously defending itself in court, where the Company believes it will prevail on the merits.

and

Contrary to the allegations made by the SEC, the Company believes that its officers acted in good faith in valuing the media credits discussed in the complaint, based on the information available at the time. The Company further maintains that after learning of potential problems relating to these credits, it took appropriate steps in compliance with its obligations to shareholders and the public markets at large.

"

I guess some have judged him guilty before being proven as such.

Shame.

[Rawnoc]

Here's a random example I found of blatant private placement fraud (the real kind, not the media kind).

Total "ill-gotten" gain given back including interest? Comes out to 8.3% of the private placement:

http://sec.gov/litigation/litreleases/2011/lr21808.htm

Don't be surprised at a settlement, at worst, of less than the cost of a single P2O processor. :)

And by the way -- this is a CIVIL court, not a criminal court, so using that analogy of suing for a fake $100 bill -- you can indeed only sue for $100 for a fake $100 bill in civil court. You have to prove damages in the case of the private placement.

And, yes, most SEC settlements happen AFTER the litigation release. The failure to reach a settlement with the regional office prior to the litigation release is common whereas making it to court is rare.

[Zardiw]

Imagining a Jury having to listen to this weak and insignificant claim.....I think they would think it was a total waste of their time.....and side with JBII just on principle........z