First off, it's only $7 if the shares went to zero (they didn't), and only for people who held shares on September 6 2008.
Second, common dividends are always discretionary. Angel's lawsuit, claiming that the junior pref dividends were supposedly mandatory, got dismissed. No court will consider hypothetical discretionary dividends when calculating damages.
So no, it is nowhere close to $60 no matter how you slice it. And a damages award based on the $7 pre-conservatorship share price would only apply to those who held shares on the day of conservatorship.
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