pay attention class. The lawsuit is pie in the sky and a poor reason to buy a stock.
They could win, likely a token amount that craters the stock.
There was two shorts since the last 3 buck sucker rally.
First was short it at 3 and cover at 2.40.
Second the bounce that fizzled at the middle Bollinger band was the other short.
Since the stock is trading under a falling 50dma and about to tag the lower band
just hold the short. This company isn't even remotely close to imagining a profit,
shorting is taking candy from a baby, etrade baby or the cry-babies on the board,
doesn't really matter, down she goes, nobody wants it.
We make boatloads shorting 2 dollar "stocks." It's a stretch to call it a stock, it's more of a market donation center. Suing Sinovel (China) is like biting the hand that feeds you. Management should have graduated from business school and not exposed themselves, and you, (even after the fact) to one big foreign communist customer. Management stuck your head in the lions mouth. The lawsuit problem was sealed even before the dirty deeds occurred, sloppy business, sloppy management that's what you slapped your cash on. The only thing you're going to walk away with is a lesson (hopefully) learned. This company's history is going to land in the business school textbook "Don't Do" chapter.