Mostly agree. However, if Hovendick doesn't get any monetary compensation (shares or cash) from Caywood, then his only opportunity to benefit from whatever legal shares of JPEX he does own, will be to let Frank merge JPEX with VeeMost (i.e. withdraw or void his temporary injunction).
In my mind, that would be the only connection that I can see between the Hov/Caywood case and JPX's custodial case/merger/acquisition with Veemost.