Isn't it possible that JPM, or a cohort, could hold all the remaining short shares? We're only talking about +/- 6mil. This would provide an explanation why they havn't been covered yet. In reality (JPM or one of thier partners in crime) would not feel a need to cover the short position until a settlement is officially agreed upon. This is the only explanation I can come up with, considering the minimal potential gain vs. the huge potential loss. Unless, of course, they are phantom shares.
This appears as an insider holding that will be played based on insider information.