Hmm, apparently there was deeper weirdness surrounding the resignation of the K-theory board. Specifically the managing editor Anthony Bak withheld papers from Springer for almost a year without telling anyone, including Springer, the other editors of the journal and the authors of the papers.
I have no idea what was going on there, but this is just inexcusable. Though, I would say it mostly just points out what a terrible system our current journal system is, whether run by corporations or by non-profits. Any system where a person could get away with such unprofessional and irresponsible behavior (even if this is an extreme case, systems have to have safeguards against completely insane behavior, because, well, people act completely insane sometimes) is not one we want to be an important part of the functioning of our field.
As I’ve said before, and will probably say again, I have yet to figure out a viable alternative, but I feel certain that our current system is so deeply flawed that there must exists a root-and-branch reform that will significantly improve it.