First question from an attorney will be:
What do you estimate the value of the IP to be and on what basis?
I think the lawsuit ends right there.
But, as this would not be on a contingency basis, you can spend your money any way you want.
I'm down big time and think there is now a good possibility to get out of this mess. Won't be astronomical and that reality has finally hit home to some, so I understand their venting.
However, if you want a lawsuit, go after the former Board. Ronin made that concession to get rid of these guys. That, you might be able to get on a contingency basis.