A little common sense here guys. What they are trying is illegal and recoverable. Chapter 7 the stockholders are screwed. But this was chapter 11 and with restructuring, the creditors get paid and then the shareholders get paid. The judge can rule anything he wishes in the hopes its not appealed but a clas action suit is an appeal of a judges orders and in such can overturn the bankruptcy rulings. I did read somewhere that share holders will be issued new stock. What ratio I dont know and if true I dont know for I cant find where I seen it before, but lets see this play out for a bit and then decide to get a legal mouth piece or cut losses.
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