Absolutely unbelievable that Brian Smith is selling more large blocks of this stock at single digit prices. Why on earth would anyone be long this stock. Why would any investment bank ever underwrite a secondary offering when they run out of cash. Amazing!
First of all, he only FILED to sell. Neither YOU nor I know when and at what price his trade will be completed. Also, this filing can be used to prove a "pattern of selling" that would enlighten someone (let's say a disgruntled investor/"plaintiff") to the fact that his selling over the past year was everything that he was entitled to do and was not in any way "timed". Filing to sell right now is a much more strategic move than buying - think about it. He also still holds several million shares!
I am prepared for the crap that I will soon be reading in reply to this post, but that's all it is.
Good luck to all and, by the way, maybe if the idiots had used money management techniques, (i.e. stop loss) they would not be crying. Good luck with your "lawsuit" :-)
Oh my, that's a sad case of affairs when some one has to depend on a lawsuit, these guys are pathetic, as for your analysis of the timing, an excellent enlightenment, alot of these ceo's timed sales are just that, pre-set timing and with no agenda...