(1) Company performance did not improve.
They did a rights issue to retire their loans and increase their working capital.But the results were disappointing.if they were prudent enough they could have improved their performance by merely reducing their finance cost without thinking about working capital.
Contradictory company performance got worse.
(2) Fraud done by a corporate management member.
So far nothing has recover from him and financial impact was not clearly given.For me company figures seems to be distorted (my personal belief)
(3) Extremely poor management skills shown by board of Directors , corporate and middle management.(As a whole of above facts)
(4) Highly manipulative nature of ACME in recent times.