Phony "class action" suits are often used against small companies, so that the companies will pay the law firm that filed the suit some relatively small amount, like a few hundred thousand bucks, to go away. Companies pay because it's cheaper to settle than it is to pay legal fees. Sometimes they fight back and win (e.g. CTIX, now known as IPIX) to prevent others from piling on and greenmailing them.

But there are GENUINE class action suits that can and should be filed. When you file suit against people who demonstrably are trying to profit off of market manipulation of a stock you own, using lies on message boards, social media, "journalists" who are involved with their cabal.... well, who knows what you might turn up in the discovery process before the case goes to trial. Especially if they have already put out deceptive documents intended to fool shareholders, and then had to admit at least some of the truth.

There's certainly a lot of interesting stuff that has come out so far. Who knows what might be proven with some good digging -- especially if one of the rats decides to abandon his sinking short ship.