I would say: fire the C level executives, with no severance. At the same time halt all stock trading.
Have the top officers who remain put their division on the auction block to the highest bidder, on a sold twice system, best deal wins. That is the company as a whole is sold, in parallel all divisions are sold separately: then add up the different bids, and whoever paid more: whole company vs all the individual departments separate wins. Although there are conflicts of interests, I think the officers who remain should both be allowed to bid, and also consult to other bidders: but the consults must be in public as are their bids.
Shareholders are treated as if the company is bankrupt: government fines, remaining employees, banks, and then the lawyers all get paid. If there is money left over shareholders get it.