There are a ton of investors/traders/speculators out there that do not care what happened yesterday. They are all, rightly or wrongly, looking to tomorrow.
If EGMI gets it's house in order and moves forward on even one of the potential deals we were so excited about last year, pretty much all will be forgiven and a new crop of buyers will take the stock price back up. The class actions will be somewhat of an overhang but these drag on for years and any outcome is uncertain and unlikely to "kill" the company in the end, if it's got a good business. The legal fees, if there are any, will just be another expected expense item until settled.
The big thing the recent letters and 8K tells me is that there is something here worth fighting, and possibly ruining careers, over. From the outside these guys might be complete Bozo's for taking a management dispute this far, but none of them appear to have been stupid people and they all had successful careers going prior to joining EGMI. I just can't see them blowing this deal up so publicly if they each didn't see a heck of a lot of potential value here.
Now that the management split is resolved, for better or for worse, I think we will start seeing information flowing out on a much more regular basis. My prediction is that in 45 days we'll have a pretty good handle on what actually happened and where we stand.
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