I reviewed the opinions issued by Parsons over the last 6 months. Besides a few simple Orders and Motions, in every case I saw it has taken him over 3 months from date of submission to render a decision. That puts us beyond 4/15/14 to expect any decision. Add to that a month to appeal and another 6 months for a SC decision, we should not expect a resolution before 2015.
Filing the 8K protects them from the lawsuit. The issue as I see it is that this did not just come out of left field. If it were a simple fix it never would have reached this point. Just as Gary before, it looks like current management have reached their level of incompetence and must go.
The good news is that nobody has to sell and with EMANs strong balance sheet this is not and attractive stack to short. The selling should mostly be from long-time believers who are becoming frustrated and are losing faith.