For any kind of legal action you would need to prove intent to defraud and good luck doing that. WRIT will just counter that by claiming incompetence (which is what that statement in 9B appears to be laying the groundwork for). Plus, what are you going to win, WRIT stock? ;-)
Unfortunately the stock market is "gambling" and there is no expectation to win every time. Penny stock companies and even the giants (Enron) fold all of the time. Others make fortunes. Most just amble along doing solid business.
Many "businesses" simply exist to borrow cash and then slip this money and all of their assets into the pockets of certain individuals. When they can't function any longer they simply fold up and start again.
WRIT may very well have been trying to build an empire (and who is to say that they don't have a secret plan and hidden assets that they might announce in 5 minutes).
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