Select statements from a filing referring to these three ...

"...while doing nothing to address their own unjustifiable & egregious compensation. If the Company needs to reduce costs, the first place it should look is the preposterously high salaries of its own Board and mgt." 

"...This (their actions) was a laughable attempt to appear stockholder-friendly.."

"It is insulting to employees & stockholders alike that mgt. and the Board ... apparently unwilling to sacrifice anything personally. Recent actions by mgt. and the Board further validate our belief that their only concern appears to be their own personal enrichment, which we are confident will soon (and to everyone's relief) be coming to an end."

"Peregrine can no longer afford to allow Peregrine's current leadership to needlessly destroy more value in a futile attempt to cling to their positions."