Two items. The answer to the First Amended Complaint by Charles Matthew Erhart was posted yesterday. In short, it states that Erhart agrees with this, disagrees with that, denies the legal standing of this, and wants BofI to pay all court costs.This morning, an Early Neutral Evaluation Conference has been set for 2/10/2016 09:30 AM before Magistrate Judge Nita L. Stormes. In case you're unfamiliar with an Early Neutral Evaluation Conference (commonly referred to as an "ENE"), it is a meeting between the parties and Judge, typically held in a less formal setting like the Judge's chambers. The purpose of the ENE is to have an in-depth discussion of every aspect of the lawsuit in an effort to achieve an early resolution of the case.
Hello,Another hit piece by Aurelius today. The folks who might respond to that have apparently exited long ago as the share price was down much less than the overall market and less than most large bank stocks. This is some kind of tell since the short's playbook is to have new short selling initiated to lend credibility to the attack. I would expect to see another SA article in the next few days to give the enlightened shorts some opportunity to cover before earnings. The overall softness in the market will provide them a better opportunity to cover than theydeserve.In the meantime, with the stock price a little over two times book value and with a trailing price earnings around 13, it will be very surprising if the short position will show much growth as of 12/31/15 when the next report comes out. As the March qtr should show phenomenal, accelerating growth, the days that the shorts reign supreme here are becoming quite short themselves.Best regards,Mike
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