More specifically, appalling financial management, for which...

More specifically, appalling financial management, for which Yeager, as Chair and CEO, was responsible. Finance was not his strong point and he listened to the wrong people.
The operational failures are more debatable; it probably comes down to ones view on whether or not the geological faults should or could have been spotted, given that other mistakes (mostly with the fracturing) were not fatal. FDM did purchase and study the analyses and production figures from offset drillers and evidently saw nothing unusual, but on the other hand, there may have been a good reason why the lease areas south of Carrizo Springs were bargain priced. To find any sort of answer, one should try asking a reputable independent geologist.

Nonetheless, if Freedom disappears, along with a likely majority of shalers in the US, then investors have only themselves to blame for still being involved. With foresight - rather than hindsight - they should have headed for the hills the moment Ramas came on board with a stranglehold over the future of the business. And if that wasn't enough, then Morgans' half-priced capital raising should have been the sealer.