Replies to post #237943 on Plastic2Oil Inc (PTOI)

[mikevel]

What I find amusing is how anyone can have a definitive explanation of how the money will and can be distributed when the final settlement has not been finalized, not published. kinda like telling me that the Giants were going to win last nights game 40-14 mid way through the 1st quarter

[jaxstraw]

Actually while researching other Plans of Allocation on settlements of fraud in Class Action Securities cases it seems that both scenarios could come into play.

In the Tyco case the POA had provisions, and different ratios for a recovery based on each category.

There were different recovery ratios for claimants who purchased and held, claimants who sold, claimants who acquired stock through an offering, claimants who acquired stock through acquisitions, etc.

A much larger and more complex case no doubt, but it does show how the members of class can be separated not in just category, but in potential recovery of loss.

It would not be surprising that JBII, with the PIPES, issuance of shares for services, issuance of shares for consultants, common stock purchases, acquisitions, and any other stock transaction during this period will have the same kind of 'sliding scale'.

http://www.tycoclasssettlement.com/inflation.pdf

6.
An Authorized Claimant’s total “Recognized Claim” shall constitute the sum of such claimant’s “Recognized Claims”
for each of the classes of Tyco Securities set forth below:

A. Tyco Common Stock Purchases:

(i) For each share of Tyco common stock purchased or otherwise acquired during the Class Period that an Authorized Claimant continued to hold as of the close of trading on June 7, 2002
(the end of the Class Period), the“Recognized Claim” shall be equal to the Estimated Inflation on the date of purchase
of the Tyco common stock


(ii) For each share of Tyco common stock purchased or otherwise acquired during the Class Period, which an Authorized Claimant sold prior to the close of trading on June 7, 2002, the Recognized Claim shall be equal to the lesser of

(a) the difference between (x) the Estimated Inflation on the date of purchase of the share of Tyco common stock and
(y) the Estimated Inflation on the date of sale of the share of Tyco common stock (as shown on Attachment A),or

(b) the difference between (x) the purchase price paid (including commissions etc.)and (y) the proceeds received on sale (net of commissions etc.), but, in any event, where the Estimated Inflation on the date of purchase of the share of Tyco common stock is less than or equal to the Estimated Inflation on the date of sale of the share of Tyco common stock, or where the purchase price paid {including commissions etc.) is less than the proceeds received on sale (net of commissions etc.), the Recognized Claim shall be $.01 per share (“Minimum Recognized Claim Per Share”);

(iii) The Recognized Claim for shares of Tyco common stock obtained directly as a result of:
(a) the October 17,
2000 Mallinckrodt acquisition;
(b) the December 1, 2000 CIGI acqui
sition;
(c) the December 1, 2000 InnerDyne acquisition;
(d)
the May 3, 2001 Scott acquisition;
(e) the June 1, 2001 CIT acquisition;
(f) the November 14, 2001 Sensormatic acquisition; or
(g) the December 18, 2001 Tycom Amalgamation, otherwise calculated in accordance with paragraph 6.A.(ii) hereof, shall be
multiplied by one hundred and ten percent (110%). In order to have “obtained directly” such shares of Tyco common stock,Authorized Claimant must have exchanged shares of the aforementioned companies in connection with Tyco’s acquisition of
those companies. The Estimated Inflation per share of Tyco common stock acquired in the above exchanges shall be the amount of Estimated Inflationon the above-indicated dates of such acquisitions, and as reflected in the Estimated Inflation Tables.

(iv) The Recognized Claim for shares of Tyco common stock acquired in Tyco’s June 6, 2001 secondary public offering of Tyco common stock (“SPO”), otherwise calculated in accordance with paragraph 6.A.(ii) hereof, shall be multiplied by one hundred and ten percent (110%). To have “acquired in” Tyco’s SPO, an Authorized Claimant must have paid $56.36 per share on June 6, 2001 and not paid any commissions on that purchase of Tyco common stock. The Estimated Inflation per share of Tyco common stock acquired in the June 6, 2001 secondary public offering is $8.06 per share.

http://www.tycoclasssettlement.com/poa.php3

[greenhornet]

Your final statement is correct.

[AtlasSnuggled]

curious what's one's 'damage', before loss quantified/finalized ?

In JBI-think, now I simply hold my specified period shares to zip point zero and I will get a larger pennies::dollar settlement !

My guess about the pending proposed potential Settlement is holeders must sell to made hole ( not a typo )