Ann: Trading Halt, page-13

Out of the above list, the misuse of IPO funds may be the only thing management truly did wrong. You'd have to scour through the prospectus to see whether they put in disclaimers, which I speculate they would have done.
The rest of those options are just risks of the stock market and were communicated in announcements to market. Management never promised a legally binding document, therefore it is up to personal DD and knowledge. The silver lining is that hopefully it'll cause some self-reflection to make the next investment better.