When it comes to potential future litigation and "unlubricated colonoscopy probes", list any other passages in "the judge's flaming damnation" that even come close to comparing to the top 1/3 of page-3 and the top 3/4 of page-14. Laster details blatant stock manipulation and outright insider trading. What, from a litigation perspective, in Laster's opinion is more damning than that?
With help from Storm, Daic just worked to keep T-Mobile in the game. Diac has the inside track on any auction held by the Receiver. Diac is the only one who can reunite the US and international patents under one roof (the whole is more valuable than the sum of the parts). By keeping T-Mobile in the game, if/when Diac submits the winning bid, he swaps out "Calypso v T-Mobile" for "Diac v T-Mobile" and ends up with all 100% of the settlement without any cut for Storm or for CLYW shareholders (Paul gets his cut as creditor from whatever Daic bids to buy the patent at auction). All of the T-Mobile settlement (with a better financed litigation) sure beats 28% of a (lesser litigation financed) settlement, not even counting Storm's pre-28% cut. On top of that, Diac (and Jimmy) get their "share cut" from whatever is left over from Diac's bid that is distributed to shareholders. This is a no-brainer for Diac.
There is no way the Receiver bars Diac from bidding, especially in light of the judge's opinion: "The Patent is readily salable, and there are at least three natural bidders: T-Mobile, Daic, and current Calypso investors .... Daic demonstrated his interest in the Patent during the prolonged and vigorously contested state court litigation in Texas and by taking an economic interest in the Patent in the eventual settlement."
The judge basically instructed the Receiver to engage Diac as a "natural bidder". As much as we all might hate the outcome, Diac has the inside track to the 923 patent.
My guess is if T-Mobile does not see what's coming, Diac wins the bidding. Who else is going to risk bidding on a yet-to-be-defended-in-court 923 US patent with Diac owning the patent rights in the rest of the world?
And while I hope you are right (at least about what shareholders end up with), I think the realistic litton of six months ago is likely to be closer than the wildly optimistic litton of today. But, to hedge my guess, make mine a double Jamison, neat.
