Truth is management gambled the company on this arbitration and were not willing to countenance the worst case being possible. Giving guidance how how the payout money would be returned to shareholders so far out from a decision masked the likelihood of failure from all.
Proper diligence would have been to state how a win would be distributed out but also at the same time to tell people how a loss would be paid for without killing POH as an ongoing concern. Would everyone had approved the action if they knew that it was Russian roulette with the company.
I will say though, hindsight is a wonderful thing.
Pity the lawyers werent "no win no fee".
Truth is management gambled the company on this arbitration and...
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