Yes, I agree it was poor judgement, kind of reminds me of the steroids scandal in baseball. Personally, I would have never hired a guy like that if it were my company knowing that companies and investors would be doing DD on you but since he's not here to defend himself I won't lambaste him either...lol.
Here is his email address if you want to ask him about it, personally I don't really care that much about it since we don't know what role he is even going to play in the mergers, if any.
wfellus@princetoncorporatesolutions.com