I had a very small starter position (purchased last year at ~$76), and I decided to add to the position at the end of trading today. I happened to get a bit more at $100. I don’t usually buy on a panic trade, but I just couldn’t resist today. The info coming out just didn’t seem like it would turn out to be valid.
Nevertheless, I could be wrong.
However, with the recent slide of the share price and my new shares, my total position is now less than 2% of my non-cash Roth.
I’m comfortable with that, waiting to see if there’s any fire to the smoke.
My initial thought is, “No.” But just as the plaintiff could be “mis-representing” the facts, so too could the CEO. It could easily be a case of “methinks he doth protest too much.” Then again, it could just as easily be a case of the CEO thinking, “Geez, can you believe what we’re having to put up with from this guy?? I’m incensed and flabbergasted!” We won’t know the truth of it all for some time. But I lean toward accepting that this is an attack out of left field for its own purposes, and that BOFI will be vindicated.
However, with a small position, I’m willing to let it ride and wait to find out.
I know from experience at work that lawsuits don’t always have validity, and that some attorneys will file on anything that moves. Not all. But some.
Ambulance chasers will. I discount all the add-on lawsuits completely.
Best regards,
Kathie