"Material Information" related to Bioamber public shares ceased the minute they filed for bankruptcy protection. Anyone that purchased Bioamber shares after that date did so at the risk of total loss of investment.
Since filing for bankruptcy, the entire process has been shrouded in court actions, sealed documents, confidentiality and non-disclosure agreements.
All of these virtually guarantee that "material information" would NOT be disclosed throughout this entire process.
This understanding of "material information" applies only to unencumbered, reputable and freely trading equities. Hell... "material information," which later proves to be completely fraudulent, is disseminated across many OTC equities every single day.
Furthermore, Crane's lawsuit was basically a response to a lack of "material information," brought by a group of shareholders and ultimately rejected by the court.
