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Case 1:13-cv-11906-MLW Document 49 Filed 06/24/14 Page 1 of 36

UNITED STATES DISTRICT COURT
DISTRICT OF MASSACHUSETTS
ERWIN GRAMPP, derivatively on behalf of
JBI, INC.,

Civil Action No.: 1:13-cv-11906-MLW

Plaintiff,
v.
JOHN BORDYNUIK and RONALD C.
BALDWIN,
JURY TRIAL DEMANDED

Defendants,
and

Leave to File Granted on June 23, 2014

JBI, INC.
Nominal Defendant.

VERIFIED AMENDED SHAREHOLDER DERIVATIVE COMPLAINT
Plaintiff Erwin Grampp (“Plaintiff”), by the undersigned attorneys, submits this Verified
Amended Shareholder Derivative Complaint against the defendants named herein.
NATURE OF ACTION
1.

This is a shareholder derivative complaint brought on behalf of the Nominal

Defendant, JBI, Inc. (“JBI” or the “Company”), against certain of the Company’s former
executive officers and members of its Board of Directors (the “Board”).

Company founder,

former Chief Executive Officer (“CEO”) and current Chief of Technology John Bordynuik
(“Bordynuik”) and former Chief Financial Officer (“CFO”) Ronald C. Baldwin (“Baldwin” and
together with Bordynuik, the “Individual Defendants”) breached their fiduciary duties by
knowingly

booking media credits in violation of generally accepted accounting principles

(“GAAP”). Specifically, the Individual Defendants caused the Company to erroneously book the

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