Nobody was encouraged to buy the stock what people did or didn’t think on hearing someone was a shareholder is for them to assimilate. Nobody else can do that for them.
Basically it’s called greed! That’s what made people buy drawing their own conclusions from that knowledge.
That IS nobody’s fault but those buying. Nobody else’s not one little bit. But you knew that already,
My post are my opinion only. You should do your own due diligence before investing in any stock or take professional advice. I am not an investment advisor. Kind Regards.