The legal system has nothing to do with it if you are a shareholder.
If PNC are forced to adopt a change in policy, profits / assets are slashed & the sp nose dives further who gives a damm about whether or not they have a legal opinion?
They can't take legal action if they are forced to change accounting ,standards that's nonsense & they won't. PNC have already stated that if they have to change methodology they will still disclose MV, that doesn't suggest in any way that they are even thinking of a legal course of action.
It's pretty simple they either have to change methodology or they don't , a thousand lawyers opinions won't change that.
Counsel's opinion, page-8
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