PPS was on the launchpad @ $5.90 at the start of the alleged impropriety (FY09-current)
Reading through the original Copperfield report, if the allegations prove correct and massive accounting fraud was perpetrated from FY09 thru current, the implication is profound - as share price appreciation over the past 4 years (prior to today's merger termination) would imply the meteoric rise in PPS to $20 was buoyed by pure air. That said, anyone shorting at these levels face significant risk of a parabolic reversal should the accusations prove to be false. Likewise, anyone going long at these levels could see further PPS deterioration to pre-2010 levels should the accusations prove true.
JMHO, neither long or short.