Getting rid of him doesnt change what he may have done here. If he stupidly created an employee relationship, OWC goes down with Friedland. The company had better say something fast.
It doesn't work that way. If any company directors did anything illegal anytime in the past while representing OWCP then the SEC will halt the stock for the good of the investing public and screw the current shareholders.
Not the way it should be, but the way the SEC works.