I think it goes deeper than that and it raises several questions for me which I can't answer or comment on as I haven't seen the report.
-who hired OM to write the report
-what were the motives for having the report written
-did the report have an agenda or was it written from a balanced context reporting both positives and negatives
-what research methods were utilised to gain the information within the report.
-why was the company not asked any questions regarding any context of the report
-why did the report pose questions and not answer them with the research undertaken
- why was the report sent to some shareholders and not others.
- if it was a private report why and how did it become public knowledge that the report existed
-what was the distribution of the report trying to achieve
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