If faced with a Jury trial, it is pretty easy to see which way the Jury is likely to go.
The fact that Quinn Emmanuel stuck Bill Burck as lead the Defense attorney tells you everything you need to know in regards the seriousness of the spoofing allegations. He has represented Robert Kraft, President Bush, Steven Bannon, Trump Associates and many other Elite Republicans, not to mention many other high-profile white collar crimes. If NW is successful, the flood-gates of other civil suits will surely follow, and could very well deal Citadel a death-blow of sorts. Citadel knows this. Remember, this is a civil suit, not just some SEC enforcement action that seldom yield big $$. Civil Suits are much more painful financially than any SEC enforcement, but jail time can result if DOJ gets involved. I suspect its a likely possibility that a Whistle-Blower may come forth, which is Citadels biggest fear and why this may get settled for a large amount. Pay $1-2B now to prevent more civil suits that will likely follow if NW wins?? We shall see.