To be fair, they had to gather the requisite share

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To be fair, they had to gather the requisite shares to file the 13d. Then (based on the call I was on) they would work to present a plan to the shareholders. They made it seem at the time that it would be compelling.

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They could have had a plan PRIOR TO filing their 13D. Just imagine how much easier a time they would have had to obtain shareholders willing to sign on if in fact they had a plan AT THAT TIME that was "compelling" as they claim their plan eventually will be.
Didn't they plan this out? I am sure it is not merely, hey, let's take over this company and figure out our plan later. IMHO, most likely it is they were "busted" and they now realize that their "plan" only benefits them and the average shareholder will be appalled by their "plan."
I was told that 13D insiders were saying that they would release the plan by the 1st of July. What happened to that?
I don't know the legalities of this, but if this were allowed, if I were them, I would save face and make nice to current management and see if current management would be willing to give them a single director position should they drop this charade.