BobRomo, I agree. I am willing to bet dollars to doughnuts that management offered Grisallfi an opportunity to disgorge his stocks while sparing himself the headache and cost of legal action. Grisalffi would have passed on this. And the legal action proceeds.

The implications of this are obviously a matter of interpretation. For those who believe in management's case, a win awaits. For those who buy Grisalffi's line (Jersey, are you out there?), no.

Me, I see Grisalffi as a grifter. I think management wins.