Tidbits stolen from Twitter feeds:
"Attorney for UW says that OSU and WSU would use revenue to pay exit fees for MWC schools to rebuild Pac-12 and that doing so would cause "irreparable harm." (Canzano)
"The WSU/OSU argument is that the Pac-12 bylaws/past actions make clear that once a school gives notice to depart, it is no longer on the board.The Pac-12 argument is "If you let them do this, it will be chaos. There's no agenda for the meeting!" (Manzel)
"Interesting note from Whitman County Court in today’s Pac-2 hearing, that 10 members of the Pac-12 considered — but didn’t — fining USC/UCLA or reducing their conference distribution after the announced move to B1G." (Fischer) personal note: I find this barely relevant. The bylaws indicate that the remaining conference members may choose to retain distributions. It doesn't say they will. The fact that the 10 members did not take USC/UCLA's distributions does not mean that WSU/OSU can't take distributions from the remaining 8. However...I'd probably agree that since the decision was already made by the membership, WSU/OSU probably can't take USC/UCLA's distributions now. So we might see a scenario where the media money gets divided by 12, WSU, OSU, UCLA, and USC get 1/12 shares...and then WSU/OSU split the other 8.
"OSU/WSU lawyer says there were 20 Pac-12 board meetings after USC and UCLA provided notices of withdrawal and both schools were not allowed to attend board meetings, vote, or know about Pac-12 matters at that point. No schools that were still in the Pac-12 disagreed with it." (Greene)