There is no proof of anything util the process is completed so get off your insistence of proof.
There may not be punitive damages under the SEC statutes. This has never been just about the demonstrated damages although they may be significant depending on how the court accepts the claims of damage.
This case has been as much about the pain and risk the defendants are exposed to during discovery. That may lead to settlements far in excess of the actual damages. And, it may not.
Do not forget that discovery may reveal other causes for action and that risk is something the defendants will be taking into account. That is where discovery becomes very powerful.
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