I don't believe TEG has their facts wrong; they're likely just fed up with PGY's ongoing issues. Under PGY's current leadership, they have consistently gone over budget, missed deadlines on commercial arrangements, and disappointed shareholders. On top of that, financial commitments are being missed as well. If I were the CEO of TEG, I would take the same stance—it's unreasonable to allow a company to repeatedly fail on scheduled payments, as it disrupts TEG's ability to execute its own strategy and plans. This situation is truly embarrassing, and I sincerely hope it marks the final straw for the current CEO's tenure. Until meaningful changes are made, I remain extremely pessimistic and fully expect to lose my investment.
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