You pretty much covered it. BTW, Uconn would have little chance of winning a suit. My understanding (from the lawyers on the board) is that the NCAA is a private organization which Uconn chose to become a member and that private organizations get to make their own rules.
We didn't follow the rules (fair or unfair) and we will pay the penalty.Venting anger isn't going to change that and it is time we all accept the fact that we won't be in the tourney next year.It sucks but there is really nothing anybody can do about it.
I can't name any specific statutes UConn could sue the NCAA over, but I imagine they have some sort of case.
The NCAA being a private organization simply means that things that they are under no legal obligation to abide by things like "double jeopardy" and "ex post facto laws" (which only apply to the government and government bodies). But that doesn't mean they can make and follow their own rules no matter what.
My guess as to what will happen - assuming the NCAA does not decide to use the 2011-12 scores - is that UConn files a suit (again, I'm not sure what specific grounds they have), then the sides settle out of court. UConn avoids the tourney ban but agrees to some other punishment(s).