(Total Views: 447)
Posted On: 03/18/2019 8:37:51 AM
Post# of 43065
Re: Commando911 #40810
There's a better chance that a class action will happen with PTOI than with other scam stocks I've seen. CEO Mr. Heddle has assets where others often don't.
It only takes one investor or former investor to start a class action suit and costs that person nothing. The lawyer prosecuting a company in a class action suit only gets paid if he can collect for shareholders. The downside is that cases can be easy to win but that judgements might be harder to collect. No lawyer will typically take a case if there's little chance of being paid..
The way penny stock scams usually work is invested money passes through the company as compensation to the swindler(s) and those swindler(s) then hope that any lawsuits stop at the doorstep of the company. Since little money is kept at the company level, a fraud suit might be easy to win but collecting on any judgement is much harder.
In PTOI's case, the SEC already showed investors that a fraudster can be sued. The SEC went directly after PTOI founder Mr. Bordynuik for his accounting fraud and didn't stop at suing PTOI. Mr. Bordynuik hoped that he could take investors' money and sic the SEC on PTOI but it didn't work out for him.
Likewise, shareholders can go directly after Mr. Heddle for his various deceptions related to PTOI.
It only takes one investor or former investor to start a class action suit and costs that person nothing. The lawyer prosecuting a company in a class action suit only gets paid if he can collect for shareholders. The downside is that cases can be easy to win but that judgements might be harder to collect. No lawyer will typically take a case if there's little chance of being paid..
The way penny stock scams usually work is invested money passes through the company as compensation to the swindler(s) and those swindler(s) then hope that any lawsuits stop at the doorstep of the company. Since little money is kept at the company level, a fraud suit might be easy to win but collecting on any judgement is much harder.
In PTOI's case, the SEC already showed investors that a fraudster can be sued. The SEC went directly after PTOI founder Mr. Bordynuik for his accounting fraud and didn't stop at suing PTOI. Mr. Bordynuik hoped that he could take investors' money and sic the SEC on PTOI but it didn't work out for him.
Likewise, shareholders can go directly after Mr. Heddle for his various deceptions related to PTOI.
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Yes, I understand your penny stock also is the real deal, created with the inventiveness of Edison and destined to be the next Microsoft. Yes, I understand that the delays are also only because your company is making their product and/or technology even more revolutionary.
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