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else, whether any plastics recycling machines comparable to the
Sentinel recycling machines already were available on the market.
Feinstein has no education or experience in plastics
materials or plastics recycling, and he was not under the
impression that Hirshfield, Trost, or Ferraro had any significant
education or experience in the plastics industry. He did not
visit PI, and he did not indicate that he ever saw a Sentinel EPE
recycler. Feinstein did not review any marketing plans or
research the market for plastics recyclers or recycled ground
resin pellets. He was unaware that the Sentinel EPE recycler was
incapable of recycling expanded polyethylene by itself, and had
to be used in a system of grinders, extruders, and pelletizers.
Feinstein did not know how many other partnerships would be
leasing Sentinel recyclers. Neither Feinstein nor Lauren
invested in any of the Plastics Recycling transactions.
Feinstein told Alter about Lauren and his comments about PI.
Alter knew that Lauren and Feinstein had not visited PI, or
investigated whether competitive machines existed, or made a
judgment as to the value of a Sentinel EPE recycler. He also
knew that neither Feinstein nor Lauren personally invested in a
Plastics Recycling transaction. Alter accepted the fair market
value of the Sentinel EPE recycler as set out in the Poly
Reclamation offering memorandum. He had "no competence to"
confirm the value of the machines or "to do any comparison", and
did not hire anyone to value the machine. Like Feinstein, Alter
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