I dont get the feeling there was any real shenanigans going on with the botched release from the lawyer.

looks like there is plenty posturing going on the bid/ask

I like your idea that investors might bail early if they dont hear anything and this could be an opportunity, while the entities involved will be more careful IMO on news releases in the future.

one reason to hover at a dollar: trading shares under a buck is fee prohibitive for small orders (at least on Scottrade)