According to the SEC's own blurb (http://www.sec.gov/news/digest/dig121605.txt - 3rd story down), they're investigating possible violations of Sections 10(b) and 14(e) of the 1934 Securities and Exchange Act, as others have correctly pointed out.

As far as other possible damages, the fact pattern wouldn't seem to support it. Doyle made an offer, WPT tries to get him for comment, and then there's no further communication. There's no completed contract, I would assume (WPT's communication sounds like a request to talk further, not an acceptance of the offer).

And common law or equitable remedies wouldn't seem to apply either - even if WPT did something acting in reliance of this offer to its own detriment, it probably wouldn't be reasonable to have done so just based on one communication of an offer, and a peculiar one at that.

But I'm in the same boat as everyone else. We don't know many of the facts crucial to determining what's going to happen to Doyle, if anything.