Tuesday, October 18, 2016 11:56:55 PM
The request for the extension to allow USRM additional time respond to the complaint was agreed to and submitted on Oct 10th. Then on Oct 11th, the next day, there were ~10 million shares traded. The legal expenses for this case could easily be in the $25k to $35k to litigate. Given the prospects of a bankruptcy that the lawyers need to consider, I wonder if USRM's lawyers asked for a large retainer, and then USRM sold a bunch of shares the next day to raise enough cash?
Could be a coincidence, but it a real possibility in my opinion.
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