Jim, it's clear from the filing that they have stated their principal charges and allowed themselves the room to add to them if necessary. If their intention was to recommend more severe actions, which I've seen on other Wells Notices, they would have stated them. In fact, there's no certainty they'll even follow through on the recommendations they posted. Although, I do believe they will. M&M deserve whatever they get. The smartest thing that M&M can do now is accept the SEC's recommendations and move on.
My opinion is, the doom and gloom being posted is to get investors to sell on Monday (just like they did when we went to the grey market). If people want me to sell, then show me a Q1 10Q with less than $20 million (adjusted for likely over-optimism) in revenue and an O/S over 1.5 billion. I'll be the first one to sell. Otherwise, this is all just noise. I, for one, am very optimistic the worse is over. We'll see how well the class actions go when the stock doubles or triples when the 10K is published. I would normally say this is all my "opinion" but it seems no-one seems to state their comments as "opinion" (not aimed at you).
GLTY,
Frank
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