Ask HN: Are private companies required to tell shareholders anything?

Kind of a broad question, I know. I left a company a few years back and exercised a bunch of stock. Since then they've raised a new round of funding, and apparently taken a bunch of bridge loans. Rumor has it this has absolutely crushed the value of my holding (into the fractions of a penny territory), but I've never received any correspondence from them about any of it-- I've only heard it from current employees.

Do companies have absolutely no obligation to shareholders when they're private or something?