Re: Stipulated Protective Order
IMO, in this case it is largely neutral and probably good for the shareholder hail mary pass (a deal that the debt will sign on to).
The company claims to be in talks with a slew of companies about a potential deal. If you're sitting across the table from NOVCQ in one of these alleged deals, you'd love them to be forced to fully disclosed in BK court. You'd know everything there is to know about any other deals they have on the table.
Asymmetrical info is your enemy as a shareholder when the asymmetry favors those you're trying to make a deal with to save the company.
It's not like they're hiding any info that shows shareholders to be any more screwed than they are now. Your current assumption should be zero with maybe some warrants. Anything more than that will be a boon so who cares if it's currently secret. You'll know soon enough.