[AndrewKemendo]

we needn't just shrug and say, "They made a bad investment, so what?"

Well I haven't made a statement on that either way - but I wouldn't advocate for that.

It is however up to their own judgement how much to do in any case. They represent shareholders, so they do have fiduciary duty there to be sure (though I am unsure if that is true for the high profile members of the Theranos board as it seemed to be largely advisory).

The fact that Holmes has 50+% of the company makes the point in this case pretty much moot. Aside from leaving the board en masse and abandoning whatever shares they have, they really are pretty powerless.