I'm not in any way a lawyer, but here's my two cents:
This whole thing boils down to who is included in the "control group"- only the admins at the time the document was signed or are future admins included as well? And is it the responsibility of those admins to inform their subordinates (i.e., Freeze and Campbell) of this arrangement. It seems like a tough hill to climb for Mars on the surface, IMO.
But in the end, I really couldn't care less who ends up "winning" this thing- because the longer Mars and his team are allowed to dig, UM loses. The damage has really already been done, but if Mars makes it to the discovery phase and is granted subpoena power, the collateral damage could be catastrophic. And the collateral damaged is all that anyone not involved in the case really cares about.