Illegally distributed code, ie. the security keys, sounds like grounds for a case. Regardless, there's no point in declaring any of the charges are invalid, even if one was an attorney (which most arguing the case here aren't), as it's up to the courts handling the case to decide.
At this point though, the genie has already been let out of the bottle and while I won't discount future updates that prevent the average user from taking advantage of the current security leak, consoles that are closed off from PSN won't be effected.







