Random Thoughts1) I highly doubt there will be any shareholder lawsuits, much less ones that actually succeed. I'm not a lawyer, but I believe the bar for a ruling in your favour is quite high. Things like theft of funds by management / BOD, gross negligence backed up by a boatload of evidence showing management / the BOD clearly and willfully neglected their duties, etc.
2) If Banskota was to resign, he would have done so by now. For those who would like to see a change in CEO, you'll probably have to wait at least 6 months (but most likely a year or perhaps longer) as Banskota is given time to sell assets, see the outcome of the Kentucky Power deal through to a conclusion, etc., and have the BOD review his performance. If he doesn't meet certain benchmarks, then I suspect the Board will ask for his resignation.
3) The events that led to the current situation are mostly the fault of management, not the BOD. Sure, the Board hires the CEO and is supposed to represent shareholders best interests, but most Boards allow the CEO to make the key decisions and don't stand in his / her way. After all, the CEO is responsible for leading the company in its vision and day-to-day activities. If a Board handcuffs a CEO by vetoing his requests on more than very rare occasions, then the CEO can rightfully claim little responsibility for company performance. Plus, any CEO worth his salt would not wish to work in an environment where the Board is impeding his efforts to see his strategy through and be held to account if things head south. The BOD is there to ensure the CEO isn't going off the deep end or is engaging in grossly inappropriate behaviour, not to prevent him from making moves that is a big part of the job they (or an executive search firm or committee) hired him to do.