I can certainly see your point there, but it's not exactly clear how well pressing charges would go, lawyers are expensive (and I do mean expensive, as in, probably cost more than the whole capital raised by the issuer) and possibly some of the issuers are also concerned about their own legal position (with or without cause). There's also the philosophical point that "oh, you want to play in BTC to avoid fiat world constraints except if a deal goes sour you quickly run to the fiat world mechanisms, how hypocritical". This may figure as a consideration to some.
Yeah...what are the shareholders doing (other than holding someone else responsible for their welfare)? Mind you, I'm not saying either side is wrong, they (shareholders and issuers alike) made the mistake of involving themselves with the easy "solution" without bothering to investigate whether it would actually work or how exactly. So they're all stuck now.
Alternatively, he's had hundreds of emails all saying about the same thing and has given up trying to answer or even read them.