Good observation. I think that if you dig deeper - one will notice that LM has some sizable and significant shareholders. These are not the kind of folks who will wait around for the bath water to run out before realizing that they forgot to rinse off. These "majors" see the storm clouds forming and they will pare down their positions to minimize their potential losses. Does anyone know of someone is shorting LM? With what is going on, LM could be below 200 before 30 days... My more probing question is - how far do they take this case and let their stock slide before settling and salvaging their company? Also - who then at LM takes the fall for this debacle?
But then, having their stock price sink only hurts their investors. They still have cash, future income and hard assets by which to settle this.
All the signs point to a potentially good year for WTIM