You know, I have seen this happen before in some companies. Nameless, faceless investigators go into a situation with the end goal in mind - truth be damned. The RIGHT thing to do in this situation would be to do a true unbiased, thorough investigation.
Not simply talking to nine people and hastily putting together a report to justify a predetermined outcome. I do agree with the other posters that it will be unlikely for Drake to reverse his decision. I am guess this goes to litigation or more likely a settlement for Mr. Waters.