This is not true.

Assuming you're talking about the Trados Inc litigation, the situation was:

* Raised 52m

* Acquired for 52m

* 8m paid to exec team to stay in place

* Common stock got zero

The lawsuit determined that the board did have a fiduciary duty to the common stock, but that the common stock had no economic value, so they were not actually being harmed here, aka this is basically the best deal the company could have gotten, but it didn't clear the pref stack.

In the Groq/Character deals, they very obviously cleared the pref stack, so common stock deserves to get a piece of the licensing deal at the rate of the stock they held. It's annoying because its a dividend and doesn't benefit from QSBS, etc, but common stock is getting paid there.