Yesterday, Signature Group Holdings, Inc. (PINK:SGGH) filed an 8-K regarding the extension of determination date under the right agreement and the confirmation of the dismissal of securities class action.
On the first place, the document focused on the formation of a shareholder group in connection with the group’s intention to nominate a slate of directors for election to SGGH’s boar at the next annual shareholder meeting.
On the second place, the 8-K declared that on November 29 the United States Court of Appeals for the Ninth Circuit had affirmed the dismissal with prejudice of the third amended consolidated class action securities complaint filed by the New York State teachers’ Retirement Systems.
During the same day, no unusual activity was detected about SGGH stock performance. The trading volume of 94 thousand shares was much lower than the daily average. At the same time, SGGH closed the session at $0.309 per share, which is the same as the previous close.
From a technical point of view, the stock is still under the influence of a down trending MACD indicator. In addition, a new 52-week low was hit two days ago, so it is important how the stock action at this stage will show if it is going to slip further down or rebound at the bottom.
