This is not some give-away package. The naievety of the posters here is blatant. "Gosh, the company's bankrupt! How could Jr. benefit from that?" Figure it out, Einsteins. The company's bankrupt, not the execs!
As for any employee who used his or her OWN money to buy company stock -- I can't hold everybody's hands as they work their way through this daunting, dangerous, often unfair thing called "life." If they have a legitimate complaint about being deceived in terms of the value of the company, then they need to take that up with their company executives and (more importantly) the auditing firm that declared the company's books to be in good shape.