Rule # 1 Agreed / Rule # 2 Agreed / Rule # 3 Agreed
With regard to "no sense". CFR's dictate the release of material events. Period. CFR's are specific. Period. CFR's do not allow a company to "hold back" the big nut. Period. CFR's do provide very specific requirements as for the LEGALLY permitted time frames when material news MUST be released. Period.
Anything within the aforementioned time frames as dictated by the CFR's is at the sole discretion of the company. Period. Hence, if a company is operating within the confines of the CFR's, then the company is legally permitted to disseminate the material information as they see fit.
I have personally heald some enormous short positions in my career. Northpoint Comm, Washington Mutual and Countrywide Financial just to name a few. But given the lack of available options strategies combined with the MATERIAL NEWS forthcoming, I would not under any circumstances short Amedica at this juncture.