IMO BCIT probably folded because of pressure from one or more of these players: his own attorneys, defendant attorneys including new broker (ie deep pockets) paid ones, the judge, and/or counterclaimants.
Megas wouldn't have gotten to his goal anyway going this route. Better to cut now and hope not too many file lawsuits for damages, attorney fees, and/or costs.
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"We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."
-- Warren Buffett