As I skimmed through the document, I have to be honest, I don't really know any more about this case than I did beforehand. The only new piece of information is that Picard is seeking $300 million. That's a heck of a lot better than the reported $1 billion.
I'm not even going to try and dissect this thing. I'll leave that to the experts. One thing I do know for sure, this is not going away any time soon.
As for whether the Wilpons would settle or go to trial, Adam Rubin tweeted this:
In a statement, Mets owners wrote:
"The Trustee's lawsuit is an outrageous "strong arm" effort to try to force a settlement by threatening to ruin our reputations and businesses which we have built for over 50 years. This is a flagrant abuse of the Trustee's authority and we will not succumb to his pressure. The conclusions in the complaint are not supported by the facts. While they may make for good headlines, they are abusive, unfair and untrue. We categorically reject them. We should not be made victims twice over - the first time by Madoff, and again by the Trustee's actions...Again, we have done nothing wrong. We played by the rules. We abided by the court order not to discuss the lawsuit. Others did not. We are confident we will win in court."
Based on that statement, it doesn't sound like the Wilpons are going to go down without a fight.
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