It's an interesting way to resolve the issue, but if you think about it for a moment, what was done can/should be classified as stock price manipulation. Isn't that exactly what took place and the intent? SEC notice received Nov 28, Katzen buys 5000 shares to knock it over $1. Merely coincidence? You decide.
It will be interesting to see what kind of earnings are announced and if the stock wants to go back below $1 before 10 trading days pass.