I did not see a lot of interest in suing from this board.
My legal theory (which I consider somewhat creative and which I will not explain on this board) has two ways it would work:
(1) get a lot of shareholders together so that the aggregated loss makes it worth pursuing to the end, or
(2) do it for a small group with little aggregated losses, so that it makes sense for Matrix to settle by paying those losses.
I am leaning to (2) for the moment, but it is not a high priority. (I only lost about $1,400.)
I am an amateur at this, and it would be unwise to rely on my opinions without your own independent confirmation in consultation with an investment professional.