I have several observations from reading all of this about todays activities.
1. This must be a very thinly traded stock for a few messages on RB and Ihub to cause the sort of price action we saw today.
2. The MM's were very happy to see the panic and amplify it by dropping the bid to catch any stops out there. It is an old MM trick. The deep V shape of the chart tells the story on that.
3. Nobody has stopped to think about how mistakes are caught and corrected. If Mike was indeed the first to call and got the incorrect info, the folks who gave him that info thought that they were giving out the correct info. Mike thought that he was given the correct info.
Only after people started to call and check did someone who knew bettter notice that the info was incorrect. The correct info was passed along to the court staff and subsequent callers got a different answer to the same questions that Mike asked earlier. No one lied, either time.
This is not rocket science.
If you make your investment decisions on info from a web board without doing your own checking, then you have no one but yourself to blame for your results.
In the real world Caca Occurs.
By the way, this is in no way different from what happened to Bear Sterns with rumors spreading that it was in deep Kim Chi prior to anything actually happening. The rumors resulted in a run on the deposits, which actually did put Bear in deep Kim Chi.
