Solicitation is necessary when the lawyers do not know the names of the members of the class who need representation.
No one knows how many people were injured from Round-Up until you solicit names.
The UOIP class is known. The names and addresses of the people wronged are on file.
But a class action is not necessary here. The shareholders are an entity. Lawyers can represent entities.
Everything can be easily resolved if the facts are clearly proffered to a judge. There's no mystery here - no "loophole" for Billy.
Offer the facts, show Billy's conduct and IMO it's a home run. As I said, everything you said about this entire fiasco is probably true, but it can be cured and fixed if you can get it in front of a judge.