This is all strategy by Coopervision to get a cheaper deal, IMHO! I would say the dealings of Coopervision and Google with EPGL technology proves the worthiness of a deal sooner than later.
In addition to PwC, methinks EPGL has another suitor lined up, who is backing this "breakup" and who would be willing to bankroll EPGL's litigation, if it comes to that. Just my opinion.