Mr Cooper Group Inc (COOP)

[sunshinevibrations]

Think of it as her saying that she can see that there is substance to the EC's claims of insider trading.

It would be like a suspect going before a judge in a preliminary hearing, where the judge would decide whether there exists enough evidence to justify proceeding with a trial against that suspect.

I like the way Rochelle characterized it on that Bloomberg podcast: that it likely means that there is enough evidence that the EC could win a summary judgment motion against the Hedge Funds. That's when they simply file a motion that asks the judge to rule on the presented evidence without waiting for a trial.