Nothing can be done. It is over, since the Plan has been confirmed by the Bankruptcy Court. At this point, they are just waiting for the conditions required under the Plan to be satisfied, which is just the completion and issuance of certain paperwork. At that point, the common shares will be officially cancelled. Shortly thereafter, FINRA will be notified and the trading of the old Goodrich common shares will cease forever.
But realistically, there was never any chance of the common shares recovering any value whatsoever. The company's financial statements filed with the SEC were very clear on the issue. The Company had a huge shareholder's deficit, which means the common shareholders owned none of the Company's assets for a very long time. There was also the preferred shareholders standing in line immediately ahead of the common shareholders for any assets, and as disclosed in the 10-K:
"we have outstanding four separate classes of preferred stock with an aggregate liquidation preference of $273.5 million"
In other words, the preferred shareholders were owed $273.5 million in a bankruptcy, which would have had to be paid before the common shareholders saw a penny. And, in the end, there wasn't even a single cent to pay off the amounts owed to the preferred holders either, as they were also wiped out without any payment whatsoever.
Even if management was able to "extend the runway", they were hundreds of millions (at least) short of even meeting the legal obligations of the classes in front of the common shareholders, much less providing anything to the shareholders. There was never any real chance of the common shareholders getting anything at all.
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