You won't agree with anything I classify as a failure, but according to your own description, the old principals were a bunch of cry babies who couldn't deal with criticism from a few shareholders. In case you don't know, many public companies have been quite successful in spite of having shareholders. Incidentally, I publicly cheered for the success of the company at times over the years, and I think a more competent and ethical team of leaders would have made the company a success with quite significant funds flowing from the Intercompany Claim. Of course, this discussion is just an exercise in futility because the company was turned over to known criminals in June 2007, not exactly something one would want to put on a resume.
I am only expressing my personal opinions or repeating public information from SEC filings or media outlets-which may or may not be correct. Do your own investigating before investing!