other shareholders think about the management selling a lot of stock as early as late March, I guess they did not know the numbers were going to be that bad? I think the lawyers will have a good time with this one can you say "Shareholders Suit"
Those late March sales were not actually open market sales. They were sales made by the company to cover the tax liability for employees who were receiving restricted shares as part of their compensation package.
Lawyers are the only people who make money on shareholder suits. Can't trade on yesterday's news. Fact is, 70 percent of the float was churned today. Current price is the lowest it's ever been. Previous all time low was $10.16 in 2006. For people buying today this is a gift.