You're definitely right about the theft. But since 2008 almost everyone in the government continued to lie that "saving GSEs from bancruptcy" was a real issue. That lie was repeated ad nauseam. (Just as Trump continued to lie about his "stolen victory" even though 61 courts didn't confirm it.)
Therefore I guess there is little chance that SCOTUS will finally solve the problem in a way most shareholders hope for. There will be no real justice, just a compromise.
Common shareholder will probably see a dilutive capital raise, and the government might even exercise its warrants to get money for the affordable home programs announced by Brookings Institution.
JPS are probably better off because they can't get diluted. (They might get a haircut, though.) Also the Collins plaintiffs own JPS, therefore any settlement might favor JPS. But that's just my guess.
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