This bit caught my eye. I wonder what the condition of sale was? At this stage I would have either kept the 2/3 partnership (assuming equal and maintain control) or completely sold out making the ownership clear. You can't have it both ways. Selling out brings its own set of problems.

'... It would have been in the author's interest to not reveal it at all online ...'

I tend to agree with their thinking in telling their story. JPG was an public online community. Exposing problems in the open, certainly gives fair notice to the community who for all intensive purposes helped create it. In the end some story is going to be told. It may as well come from someone from the inside even with the possibility of legal action.