You're right about the big boys not wanting to wait years for their $. Unless the SNs settle with the EC (they will) and take the power to rule on the three issues (IT, FJR, and disallowance) concerning them, the court will rule against them on all of those issues. Those are final adjudications, and the SNs will appeal as of right. This would mean both these issues and the GSA would be at the appellate level, however I say she will moot the GSA appeal by reversing herself on it. This court is not going to let the District Court reverse her on the GSA when she could have done as much for herself, without the embarrassment of a reversal on her record.
With the GSA out of the picture and only the three issues on the appellate level, the Third Circuit (the SNs will bypass the District Court) will be poised to make rulings on the same issues Walrath is facing now. The court will accept Walrath's findings of fact (the chance he/she will find any or all of them clearly erroneous is, effectively, zero) and will review her determinations on the three issues from the ground up.
The court will enjoy reviewing an appeal on such interesting and timely issues (remember, insider trading cases are usually the province of the Second Circuit and the courts below it given the circuit's has jurisdiction over NYC federal courts) and will affirm her decision, which will only mean more negative publicity for them.
The market is pricing as though there will be rulings and the SNs will appeal those rulings, hence delays. Again, I don't think any of this will come to pass, Myadad, because I say the SNs won't let Walrath rule on these issues. We don't have long to wait (eight days tops) to see if the SNs play it smart. Then you'll see changes in pricing.
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Respuesta Spot1roth:
Bopfan, that ship has sailed for the Horsies. Why would Susman settle now? This makes no sense with the information at hand! At this point, let her disgorge the Horsies in TOTAL and send them to prison.
