The ongoing integrity of the governance processes in a company is a central issue to the NASDAQ. They have some control of that, much more than business outcomes. They must be sure investors are protected "on their watch," so to speak. Share grabs by management are right up the alley of what they care most about.

Outside directors (or at least a plan to get there) are essential. Proving you can weed out self-dealing is a directly related issue.

I'm still inclined to think resolution of this lawsuit could be on their "not until" list.