In other words, if the committee and opt in shareholders get an offer to settle for $.50 or $1.00 or $5.00 or $10.00 a share and Fungs house they are under no obligation to give shareholders that wanted a free ride by not opting in

Then what the committee should do with their 40M shares is close everybody out and accept $10 per share. Instead they are letting a whole bunch in sharing the same $400M and ending up with $5 per share. That is called "humor logic" or "flim flam".