It's been tried. I'm still short the shares of a private drilling company years after I covered the short of the predecessor company. The people on the other side of the trade haven't said anything because they know the company is worthless. If the company had any value, though, I would be on the hook for the beneficial value of those shares.
This example is why professional short-sellers are never bothered by "call in the certs" campaigns or the like. The only thing they are frightened by is honest, competent management. And of that they are terrified. They understand the concept of infinite loss.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.