I was interviewed and subsequently denied from Merage a few weeks ago, but thought I'd put in my two cents regarding the waitlist and recently added June 1 deadline:
The vibe I have been getting from Merage throughout their process is that their trying to work their way up the rankings. One easy way to "game" the formula is by boosting the stats of the incoming class. My guess is they would normally like waitlisted students to attend, but are now holding off on hopes that some higher ranking applicants rejected from elite schools use them as a fallback.
That said, from what I can tell elite MBA applicants would rather wait another year for their dream school than go for UCI, so there might be a good chance for the seemingly high number of people being waitlisted. Can't say the same for myself, considering the ding, but maybe next year!
That sounds about right. They also have a smaller class size then most schools, so that's also a big factor in way they waitlist more students. It's for instance half the size of the USC entering class.