Ann: PGH Media Release, page-8

Either someone opened the short positions to acquire more shares before ex-dividend minus 1 day( end of tomorrow) and people get early profit or some big institutions are dumping it out. If no news from PGH or the bleeding stop by end of tomorrow, I am assuming some one scares the crap out of other investors to play shorten and acquire more share.
P.s same old technique i saw when it was $3.80 which scared other investors to sell off too.