They're shorting into every uptick and showing more and more size. They know that the company can't issue a response while they're in a quiet period. This was a well timed and orchestrated short attack. As far as I know they might run into some SEC problems if their response would be misconstrued ahead of the proxy vote. Some of the shorts are also swing traders who wil go long when the timing is in their favor and then short again when they are tipped off by a journalist.