It is hard for SEC on this case. The company announced many good news in the past months, the market (exactly the shorts) don't buy it. The contrarian investors take the chance to accumulate more. Before AF attcked, people deemed the GALAXY announcement good news. and today the company announced the patent news. Eventually it is how much trust Kovner is putting on this management for turnaround.
I think you are missing the point. Does he have any inside information right now (that will be released Monday) that will preclude him from buying right now (since its so close to the CC). I believe he would have needed to buy weeks ago. Hence, he may be waiting to buy once the info. is made public.