All he did was exercise extremely cheap options that are close to ending. If he sells between now and the arbitration publication, it means that the company is essentially gone. If he holds, it means he has expectations that some form of positive news may come from the arbitration. Do remember that the same person sold a large block of shares at 23 about 3 months ago. In addition Tom C has a buy at 26. Still a 50% rise as a result of the arbitration would look great on paper, but how many would be happy. ams
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