Couldn't an argument be made that the current price of 40 cents (which is certainly ridiculous IMO) includes the value of PTSC's share of PDS?

Couldn't an argument be made (in court) that this is what the market values this company at and the offer which was probably accepted by a majority of shareholders in order to happen was a fair one and the minority who oppose it are just wrong?

Wouldn't the fact that a majority accepted it have a huge impact on the court?

Let's go back to where this started today,

Well, off the top of my head, if TPL were to offer the shareholders of PTSC a "premium" of 20% over the present shareprice (Undervalued in my opion), They could own the whole show for less than $200 million. The PTSC BOD could accept the offer as being in the best interest of the shareholders and pocket some cash at the same time.Everything moves over to the private side of the equation and we get 50 cents or so for our trouble...Not what I had in mind!

http://www.agoracom.com/ir/patriot/messages/724300#message

The market currently values PTSC @ 40 cents on what it knows, however, TPL are aware of ALL the recent settlement figures, which the market DOES NOT know. They have also given an indicative valuation for future license fees for approximately 500 potential infringers. That a majority might want to settle for 50 cents does not negate the fact that there will be a minority, myself included, who will use every legal means possible to ensure a fair valuation for our shares.

Interestingly, the majority who accepted the initial offer will not benefit in the event of a higher fair price being obtained at court.

Be well