As much as I would like them to have continued to buy shares, they stated specifically in the January letter to shareholders that they were NOT. I think by suspending the buyback "for now" per there announcement back in the fall, they put themselves in a position that without an announcement to reinstate the buyback, they wouldn't be able to purchase shares. Once the J3 settlement took place, they essentially had tied their hands. This is my interpretation at least. Others can clarify if they disagree.

Strategically, I think this was an error, as the costs would have been "relatively" minimal to continue to repurchase all along, and once the J3 settlement happened, they could've have really taken advantage of what they had to have expected would be negative reaction to the complete silence they were going to agree to regarding the settlements. For example, if the settlements represent $50M to PTSC's revenue, then $5M toward repurchasing could have netted nearly 13M shares at current prices AND still left $45M to use in M&A. Furthermore, if M&A opportunities didn't materialize to their liking, they could've used the funds to buy even MORE shares. Unfortunately, IMO, they closed the door THEMSELVES, on a golden opportunity to have multiple strategies with which to positively effect shareprice appreciation. An error in my opinion.