Your points are well taken, though I don't share your pessimism on future share price.  I am beginning to come around to the view that the settlement was deliberately front-loaded to favor future license revenues over one-time payment for past infringement.  This may facilitate the apparent skating by of SEC reporting requirements for material events, as you suggest.

The apparent absence of "smart" money in PTSC is a bit worrisome, but on the other hand these masters of the universe don't look too "smart" right now, anyway, what with mega billions of bad mortgages written off so far, with much more to come.  JMHO