Wow. You are saying it is BOTH options 1) and 2) !
"He doesn't do charity work." That would mean option 2) since he didn't make a dime.
"so he orchestrated the RS" Peltz "orchestrated " the reverse split? He drove down the share price to force the reverse split? Then he expected his options to be repriced down to $20/share from $120 and the stock to rise after a reverse split is accomplished? That would mean option 1) .
"Aurora lost over 3.5 billion Canadian dollars ($2.6 billion) during the time Peltz served as an advisor." There are only two options to account for such a dismal performance: 1) Peltz is incompetent. 2) Peltz got bamboozled by battley and booth.