The sky is not falling because something is a day late. The sky...

The sky is not falling because something is a day late. The sky isn't falling if something is a week late either. This is a major project for Norwood, and timings can be difficult, particularly at the tail end of things. To insinuate that PO is "lying" to investors is a major overreaction. As far as I'm concerned, they haven't released it yet because they're making sure they get it right - no point and wheeling something out if it's not good enough just for the sake of meeting a date, that's ludicrous. I don't care if they're a month late with this, just means that they're taking the time to get it right. I'd be far more annoyed if they released the update on time but the update was buggy or imperfect.
The other thing to remember is this is a large scale IT project. With IT projects, you can't know that things are correct until you've done the beta testing. Scripts will have errors that cannot be identified until beta tests are run. IT projects are, for the most part, highly technical and based on expertise, but there is always an element of trial and error that needs to be tested to verify the system works. Basically, you don't know that what you've got works / is complete until it works / is complete, making date forecasting difficult.