High - I think your gut doesn’t know anything. NWBO would not have sued Canaccord if there weren’t a significant number of questionable trades. NWBO collected trade data for years. Even accepting that the MTDs narrowed the scope of the claim it would to me be quite surprising if there weren’t still a number of questionable trades. The damages attributable to those trades may not be substantial but there is no reason that NWBO would walk away from those damages. Their lawyers I am virtually positive are contingency retained so telling them to continue to litigate against canaccord is a no brainer.
More likely the money is not hugely significant to Canaccord and when compared to the cost of defending including required staff time and expert retention there was not enough of a delta to continue to defend rather than paying a settlement Also as I and others have noted the sec enforcement action likely out Canaccord in a difficult defense posture. Not unusual for a settlement to be motivated by multiple factors not just the bare dollars.
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