RE:"material fact" definition, per Ontario Securities Act They don't have to pre-announce next quarter results. The LG agreement could require confidentiality and pre announcing next qtr results could breach that.
Two of the analysts suggested it was a significant license given LG TV market share, it was with WiLan and another subsidiary and was to resolve litigation. All together suggests a significant license. In addition there was $13M of deferred revenue which was likely the wireless license. My guess is WiLan has a $40-$50M Q1 and will add $30M cash (or a full year target in one quarter).
Management has a huge incentive to keep quiet as well, given their options and RSUs would have been impacted by a pre-announcement.
So not only is Paul going to get cheap shares and options he is putting his own money to work as well.
You have to respect his cunning ways.