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The article flat out states that they ran out of money. That's the special circumstance. Basically this was a fire sale.


If there was no money (aka bankruptcy) then board, top management and other investors would also not get anything (divide remaining assets between all stock). But this is different, this is sale, not bankruptcy. Some people get money while common stock owners (aka company owners) don't get anything.


Right, that's what makes them common stock owners; their shares aren't preferred.




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