Mangement is ultimately responsible and I agree it would be easier for shareholders to make a rational decision if we had professional guidance on valuation. Of course, this whole industry is secretive and usually divulges less than WND, but it is WND that is the subject of the hostile takeover, so they needed to do more. As for a Fairness Opinion, usually if you shop around you can get an Investment Banker to say that almost anything is Fair (or not Fair, if that is what you want). All you have to do is pay them. There is NO 1 way to do a valuation. What I wanted to see is a valuation that explained how the value was determined. Just saying a certain price is or is not fair is not convincing, especially if it is the decision that was wanted by whoever paid for the valuation.
But blame only counts to the extent it help you complate future possibilities and try to decide what to do in the present.