He was saying that based on information before December 27th. For me, not much changed that was material on the 27th, because I thought the issues were already built into the price.
He said he did buy at 2.50, but he is not recommending it (or selling it) here. He is going to have a meeting with the folks in Calgary in the coming weeks. He said he is disappointed that mistakes were made, but that there is no evidence that this was fraud. It is unfortunate he said when mistakes are made, but it is worse when there are ethical issues involved.