I found the article he referred to interesting, did some research on the net, found a university study on the topic...Although I don't necessarily believe this to be the case with CLL, one can see how it may apply..

"In end of Maj/2007 when the convertible debenture was issued the number of CLL short shares decrease from 4.7M to 3.9M in June/15 and SP  moved up from $3.6 to $4.3"

Yes, however since then, the  short position has steadily increased to over 9 million shares and the SP has hovered around $3.06. The meltdown is the cause for the drop, but one still wonders why the SP hasn't bounced back when compared to other company's.