That's a toughie. Is the serial number readable at all? If it actually ends in 9950 that's a good point, but if it has an older all-number serial I'd have to say fake. I'm also worried that the top zipper looks like it's much shorter than it should be. There's a lot of extra fabric binding that's extending past the end of the metal part of the zipper.
The pictures in this listing aren't great but it's a first-year Janice's Legacy and you can see that the metal extends all the way to where the strap base is riveted to the bag:
http://www.ebay.com/itm/Authentic-C...675?pt=US_CSA_WH_Handbags&hash=item20cd3fc003
I don't have a good feeling about that one from what I can see but for what you paid it's definitely a good deal just for the strap and hangtag. But it's probably better not to invest a lot of time and effort into rehabbing it.