You've pretty much laid out your take on the latest development, including your intention to hold for now. I'm wondering if you have any additional insights into the whole mess...uh, I mean "situation."
FWIW: I'm holding for now, but not because of any great belief in the company. I'm just gagging on the thought of taking such a hit, and wondering why in the world with this one I abandoned my usual practice of cutting my loss at 10%. I'm pleading temporary insanity: that's my story and I'm sticking with it!