Armchair investor here, but I get the feeling this is a person looking to blame someone. If it was so obvious that the CEO was incompetent or taking the wrong

Armchair investor here, but I get the feeling this is a person looking to blame someone. If it was so obvious that the CEO was incompetent or taking the wrong strategic path, wouldn't you have some better option than to wait for bankruptcy, then complain about how you knew it was going down the toilet all along? That article, and some other things I skimmed over, allege some more serious malfeasance, but this quote doesn't say "Jim Keyes has lied to us" or "filed fraudulent documents with the SEC" or something like that. I don't know much about fiduciary duty, but this statement doesn't seem to identify specific ways Jeff Keyes failed to execute the duty. He may have made some bad choices over "the past few years", but apparently this investor chose not to bail out. Why shouldn't he share the blame?