No point in playing the blame game between employees and SHs....

No point in playing the blame game between employees and SHs. Neither was the real reason the company ended up in the dustbin.
The company had extremely (excessively imo)well paid senior management whose job it was to ensure the company continued as a going-concern. They evidently failed in this crucial task. It is not the responsibility of shareholders or the majority of employees to attract funding.
I hope legal action is forthcoming, and I will definitely participate.