IMO. A buyout takes your shares for cash-automatic. Best option in short run for the impatient, and Billy if he wants to go on to other things. And to sell his massive load of 900+ million shares.
Settlement- more complicated. A recent settlement they (IR NAV) did revealed nothing about it, probably per an NDA. The mention of a settlement will run the share price up, info or no info. This will be the first area of decision for sells. If there is a settlement, most likely the business stays intact for licensing revenue. If they win agreement on 1% royalties, the share price going forward will move into dollars, based on fins release of huge revenues.
Trial Win- the SP will run up to the trial. There may or may not be a run after a positive verdict, as the 13 will announce an immediate appeal to the CAFC. SP will reduce from that point to who knows where, waiting for the appeal decision. See the VHC situation. The best part is we dont have to fight the PTAB, unles the CAFC sends it back to them on a 13 appeal win.
All information provided is the opinion of this poster from review of information in the public domain.