Summary of settlement as I read it:
After July 31 (barring any more investor objections), two of HPEV board of directors must meet with the big cheese of PEAK on the East Coast for no more than 3.5 hrs so he can argue his case against HPEV. Following the meeting the HPEV board of directors will investigate and render its business judgment on the matter. I think we all know how what the HPEV board of directors will decide.
Then to make things weirder (and makes PEAK look like a sleaze of a company) is that PEAK insisted that in the settlement they be given the opportunity to
- make an investment in the company for some form of debt or equity
- aid in procuring new investors (i.e. get paid to find more suckers ???)
- to enter into a business development agreement with HPEV
So they sued, mucking things up for yet another year and now want to make sure they aren't blocked out of participating in whatever happens from here (which is probably another lawsuit).
So PEAK supposedly sued because they stock price wasn't high enough, keeping the stock price low for at least another year, forcing SB to renegotiate their settlement (which looks to me like resulted in recovered shares), only to settle by allowing insiders to evaluate their claim with the only win being they get to invest or find investors for the company.
The settlement requires that the parties agree not to make any public disparaging statement regarding one another in any press release public filing, blah, blah, blah. Don't worry I'll handle that for them, all parties involved deserve some disparaging remarks :)
Earliest we probably can get any info or update is likely end of Sept. Then we'll get the umptenth announcement of the landmark settlement. Also it sounds like they still need cash and couldn't get it because of the lawsuit so the rollout of anything (if anything exists) is going to be estimated at first half of 2017 (then 18, 19, ....)
So todays Form 4 reveals the large sells were spirit bear back to dumping. Recall it looked like they got 700,000 shares for free a few months back. I'm thinking that whatever last consent they needed must of been acquired and that freed them up to sell. We'll see if buyers continue taking the SB bait as the numbers grow. They have 6 million more after this 700,000.