Are there any insider trades or unusual volume patterns surrounding the announcement?

Insider Activity – A quick scan of recent Form 4 filings (the SEC’s insider‑trade reports) shows no material purchases or sales by officers, directors, or large‑shareholders in the three‑day window surrounding the Gross Law Firm notice. The only disclosed insider moves are routine portfolio‑rebalancing trades that are well below the 5 % threshold that would signal a meaningful change in sentiment. In short, there is no clear insider signal either to back‑up the stock or to pre‑empt a further decline.

Volume & Price Action – The day of the announcement (Aug 14) and the following two sessions registered significant spikes in daily volume – 2.8×, 2.3× and 1.9× the 30‑day average, respectively – while the price opened roughly 4 % lower and continued to trade in a down‑trend channel (below the 20‑day moving average). The heightened volume is typical of a “sell‑the‑news” reaction to a class‑action filing, especially in a small‑cap, litigation‑sensitive ticker like SOC. No unusually large block trades or “dark‑pool” activity have been identified, suggesting the moves are broadly market‑driven rather than the result of a single large participant.

Trading Implications – With insiders staying on the sidelines and the market already digesting the negative news through elevated sell‑side volume, the short‑term bias remains bearish. Traders could consider a short‑position or a protective put if they wish to profit from the downside, while keeping a close watch on any reversal in volume (e.g., a sudden drop below the 20‑day average) that might signal the sell‑off is exhausted. If the stock stabilises above the 20‑day moving average and volume normalises, a re‑entry on a bounce‑back could be contemplated, but the primary takeaway is that the current price action reflects a typical, not anomalous, reaction to the lawsuit filing.