What could happen?
If RA loses the appeal, its over imo. He could go to the Supreme Court, but it is unlikely they would hear something like this. And it would take years to litigate.
Winning the appeal could take many shapes and form. There are two questions appealed: 1)were the shares probably registered? and 2) were they denied their right to a jury trial.
I am not an attorney. But the judges could rule that: 1) the case should be sent back to the district court and be adjudicated in front of jury; 2) Could rule for a jury trial and say the shares were properly registered; 3) The shares were not properly registered, but they should have a jury trial on the other matters; 4) Shares were not properly registered and they do not deserve a trial by jury; etc.
If judgement goes for RA and Gundy and all other charges are dropped, in essence, cleansing the two. What happens? If I am correct, a case would be brought to the Court of Claims to see how to rectify the fact that RA and Gundy were innocent and USXP has been wrongly dismantled, and shareholders have suffered as result. some sort of restitution would have to ruled on.
Obviously, I think the appeals court were reject this case like a hot potato. From what I have read, BV (Arun) has heard from Bud that Gundy has heard the appeal case will be decided on Jan. 15th without a hearing. Given that RA/Gundy have not filed their final response yet, this sounds like the appeal judges have already made up their mind.
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