It is the truth, this company is going away. It went bankrupt, had way too much debt and operations were at a loss, so there wasn't a way to restructure that worked to "right" the company and start paying the bills, nobody wanted to buy the company outright, so they sold the assets and are waiting to bang the gavel once all the money is distributed.
A lawsuit can be filed, but is almost certain to be dismissed (if not laughed at), since the monitor has been very meticulous and transparent in its process, and can show ample due diligence in its solicitation of bids for both the company and later the assets. Pretty sure the judge will say to whomsoever the plaintiff is "the company you hold stock in went bankrupt. It's on you if you didn't sell it ASAP."
