This company is jinxed...not saying it's ALL their fault, but there are just too many people gunning for them, trying to cause problems for them, and bringing negative PR. They don't seem to know how to aggressively defend themselves or their position, and the continual attacks are really starting to make this company look bad. Who knows if they will ever pull out of this. In all my years of investing and following the stock market, I have never seen a company so unable to protect itself from negativity. It's like they're a lightening rod for it. For the life of me, I can't make sense of why so many people attack them. There HAS to be a reason.
Ron Perelman treats shareholders like sheep. The hope is that he will want to extract value at some point for the small net long position he holds (who do you think makes up most of the short position?). My guess is that while he controls the entity he has minimal long exposure and will decide after the court case's resolution whether to increase his exposure to the business. Until then he has no reason and neither does management to care about the company's shareholders.