CUO lawyers will always tell their client that they can have grounds to appeal. That is how they continue to get paid. I'm pretty sure between the original contract and the court ruling that they have enough information to make a very accurate estimate of the obligation they are facing.
I presume their argument is that if they can overturn on appeal and face a jury that some of the rulings may turn out in their favor. That's a lot of hopes and prayers. At this stage, my interpretation is that they've met the GAAP requirements for recording a loss contingency.
CUO perking up a bit. Infrastructure play. Low float. Solid earnings last quarter excluding the legal stuff. But I thought Q3 revenues were kinda disappointing. And now we've got their 2 seasonally weaker quarters coming up. Sold a few shares on the pop this morning. That alone should push it over $25 ha.
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