There is a legal precedent set in cases such as Sons of Gwalia, an no doubt.
In essence a shareholder takes on equity risk, however they should not be taking on the risk of the company telling lies, if that is indeed the case here.
The only way it would be financially viable would be through a class action where the legal firm involved sees enough value in the business to do it based on a % of claim. If noone will do it on that basis the reality is that either (1) the claim would not stand up, or (2) the company would not have the assets to make it worth while.
MJS
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