Sterling, the SEC isn't involved in this lawsuit. It's between the company and listed defendants w/ a county district judge presiding. Megas went after the culprits who created the mess back in 2005. As part of the settlement, he supposedly issued a bunch of stock in Jan 2006. The recipients were going to deposit it w/ the DTC to cover FTDs. I don't know what happened next. Perhaps someone else does. Seems like some, if not all, should have received real stock to replace their fake from that settlement. Apparently, it didn't happen.
A judge cannot order someone to buy fake stock from the open market. Without a valid cert, it would cause an FTD. More importantly, it's against the law to buy/sell fake stock.
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-- Warren Buffett