Replies to post #173087 on Plastic2Oil Inc (PTOI)

[dreaminbig]

An adverse opinion was issued by the auditor. That's more than a "control issue".

Perhaps the going concern statement by the auditors prompted the shareholder to contact an attorney.

More likely, the plaintiff didn't make a demand on the board because he hadn't thought of suing until an attorney called him and suggested that he be a lead plaintiff in a suit.

Which only occurred after the 10K was filed with the controls issue raised.


Ambulance chasing at it's finest.

Legal extortion is like that.

[loanranger]

"More likely, the plaintiff didn't make a demand on the board because he hadn't thought of suing until an attorney called him and suggested that he be a lead plaintiff in a suit.

Which only occurred after the 10K was filed with the controls issue raised."


Impossible. The suit was filed before the 10-K.


"On March 19, 2012, JBI, Inc. (the “Company”) became aware that a complaint in connection with a shareholder derivative suit was filed on March 16, 2012 in the U.S. District Court in the State of Massachusetts, naming the Company as a nominal defendant and naming as defendants each member of the Board of Directors (the “Board”) of the Company, including current directors Messrs. John Bordynuik, Robin Bagai and John Wesson, and certain former directors."

Form 10-K - Annual report
SEC Accession No. 0001213900-12-001206
Filing Date
2012-03-19
JBI, INC. (Filer) CIK: 0001381105