He said putting the company into bankruptcy was in the best interest of all stakeholders, as it gave an opportunity to continue operating and to try to reorganize instead of immediately shutting down and liquidating.
Ultimately, it didn't work out. The reorg failed and the company was liquidated, but at least there was a (very slim) chance of a different outcome.
The falsehood that the judge's statement somehow applied to the ultimate outcome of the bankruptcy was intentionally spread on social media as part of the pump and dump to suck people into the stock so the pumpers could sell.
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