Nefario encrypted his entire password database with a shared key using Shamir's secret sharing. 4 out of the 5 shareholders Nefario selected would need to agree in order to access the database at all. There aren't enough people in agreement.

I doubt the contingency plan which would have allowed shareholders to access the database still works. The plan allowed shareholders to get passwords (to the server and maybe the off-site backup service), but Nefario changed his passwords if he has any sense whatsoever. And to even try this I'd need to convince one of Nefario's two strongest supporters among the shareholders.