I think it's good for them to fight the good fight but what I think might be the concern here is that this lawsuit, if it drags on for months to years and without HJOEs filing their financials, there might be the possibility that FINRA/SEC might suspend the stock for who knows how long. This will make the stock un-tradeable and most likely drive down the PPS, and people will probably move their investing dollars to other equities.
Because of this I don't think there will be much movement, to the upside, until this uncertainty has been removed.
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