A Wells Notice is not a formal allegation or proof of wrong doing.
It absolutely is a formal allegation of wrong-doing. The Wells Notice says charges will be filed. If there is a settlement, the shareholder lawsuits are slam-dunks and SPNG will dissolve.
So if someone runs over your kid in front of you. You wait till the person is convicted till you think they are guilty? Notice how the most all the people who are calling this an obvious scam have years of experience and have seen it all tens or hundreds of times before. It is really easy to know what is going to happen here the Wells notice spells in out plain for all to see. Ignore it at your own peril.
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