I wouldn't call it a non-issue and dismiss it as potential liabilities are just that, potential. However I feel it is noteworthy that 2 of the largest shareholders (Mangrove and EJF Capital) were on the call and neither Mangrove nor EJF went into their positions without knowledge and understanding of the audit issues. EJF increased their position by 55% over the last reporting period.
Blackrock increased their holdings by 1MM shares and Prescott did not reduce their position as the second largest shareholder.
Point is these large investors know more than us retail buyers and my money is following them.
Institutions buying doesn't give me much comfort as these guys all recommended buying banks in 2007, but the tax thing is a joke. My experience with tax people in the Canada Revenue Agency is they are idiots.
Two large institutional investors came on board in the past year after having looked at it extensively. I don't understand how the IRS could challenge them (because they were paying taxes on income they never received) but I'm not a tax accountant.