The way I see it the issue relates to one days trading activity (EML received correspondence on Thursday evening and had trading halt issued on a Saturday if I recall correctly). That exposes about 2 million shares traded with max loss around $2.50 based on price differential between shares traded on the Friday and what the opened on when next traded. I would think this caps any payout at around 5 million which is pretty trivial in terms of EML valuations. I don’t think any claim related to the purchase of PFS has any legs especially since the way the deal was structured has meant that EML has largely got out of substantial earnings related payments as a result of this issue - you can’t claim a loss if there hasn’t been one. I am not saying the claim has merit - just that if it does it’s pretty trivial imo.
EML Price at posting:
$3.11 Sentiment: Buy Disclosure: Held
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