Oh, so you (and he) believe Les promoted the stock just to get people he does not really know to buy it in order to cause damage to them and just for the sport of it?
I think you and others had better think this through very closely before you leap. Something tells me management is loaded for bear.
Could it be that Les, out of the goodness of his heart, was simply making an effort to give shareholders confidence good things were coming? That is the reason shareholders initiated contact with him, right? If Les was a shareholder, would you expect him to say the sky is falling? Would you expect him to not talk to you?
Believe it or not I am no apologist for management. However, I have been personally involved in enough of these cases to know that things are not always as they seem on the outside looking in. Maybe you ought to draw up your indictment and present it at the shareholders meeting to we can all discuss it face-to-face. That would be the courageous/right thing to do. Will you? I’m thinking not.