Some investors are tired of waiting for an announcement on the HA suit. The settlement agreements have all been signed and still nothing from Aware management. Maybe management gave everything away and there is nothing for Aware shareholders from the HA suit. Who knows. Management is not telling. The share price continues to spiral down as other shareholders wait for.............nothing?
There has been way over 100k shares traded on news that has already happened but not disclosed to the public. The only way litigation could be avoided is if the HA settlements resulted in no benefit to Aware. This, of course, would be bad news to those holding. If the settlements did result in great benefits to Aware, there is little doubt those selling shareholders would have a claim against Aware. And, of course, the holding shareholders will pay for the defense and/or settlement of such lawsuits. Management has put the holding shareholders in a lose-lose position. There is a strong argument that the best strategy here is to sell your shares and then sue to obtain any lost upside due to the HA settlement if there is any. Sometimes I believe the current sellers of the stock are thinking this way as they sell.
How do you know it isn't the Staffords that are selling now? We won't know until the next reporting statement is due. Buffet sells all the time with no one knowing until he has already sold a large quantity. Yes, I know the volume isn't large enough for the Staffords to sell a large percentage, but they could still be selling a small amount of their holdings right now.
I have no idea who is buying or selling right now, but with this many shares being traded, you have to think the buyer knows more than we do and maybe the seller is thinking sell now, sue later.
If something large does come to the Aware shareholders from the HA suit, you have to wonder whether those that sold shares after the settlements but before the delayed disclosure of the benefit to Aware have a clear cause of action against Aware for failure to disclose in a timely manner.
I think Aware has way overplayed their hand. WHEN shareholders bring action against John Stafford and Aware the pieces will come together in such a way that a judge and a jury will have a very obvious decision. Who knows what these guys are thinking. It feels like they enjoy spiting the shareholders. But I am confident we will have the last laugh. There is nowhere for Stafford to go, he is too big of a shareholder. He will be the primary clawback target.