If anyone tries to tell a judge "sure, we knew for 15 years that Treasury owned the warrants but we never thought Treasury would actually exercise them!" they will be laughed out of the courtroom.
Can’t bring a lawsuit for an event that has yet to take place.
Sure you can. It's called injunctive relief.
That would probably run smack into the 4617(f) wall Wile E. Coyote style, but you can try.
If you wait until after the warrants are exercised to file then it will be too late to undo the dilution. The most you could hope for is money, and that would be limited to the drop in share price because in a takings case only what the property owner lost matters; what the government gains is irrelevant.
The only way to prevent the dilution is to file before the warrants are exercised. The facts that nobody has done so and that Treasury almost converted the seniors to commons already should tell you all you need to know.
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