What those two did was go directly to the board to get Chatila fired. It was partial whistleblowing, partial power play. At that point, the board knew if they acted against Chatila, the whole house of cards would collapse and SUNE would immediately default and probably be investigated by everyone for fraud. These directors would be defendants along with the officers. I think the D&O did plan this out and acted unethically to minimize individual liability at the expense of investors and business partners, but bankruptcy was a forgone conclusion around August or September of 2015 as soon as TERP's stock fell below a certain threshold. GLBL's IPO, SUNE preferred offering, and debt equity swap should never have happened.
