RE:Simply Put, Bad DecisionI have a feeling that management knows that in the end they will be held responsible for the slide.
Which would mean they would lose all upcoming lawsuits.
The MC prior to the slide was app. 490m, now it's 32m, the class action lawsuits will be to recover a good piece of the shareholders loss.
I believe that the amount of total debt is much higher than 200m, as well management has a good idea of what the total cost of this mess will cost in the end, and when they added it all up they decided to throw in the towel.
I know that some people feel the responsibility lies with others, and that may be true to some extent, but ultimately it's Victoria Gold will end up being sued no matter what.