You are correct it is very difficult to prove intentional misleading comments, however this little gem just over 12 months ago highlights my argument perfectly:-
Tue, Aug 10, 2010 - SolarBrook Water and Power Retires 67 Million Shares of Common Stock in a Continued Effort to Reduce Its Outstanding Shares by a Total of 20%
To the untrained eye this PR paints a picture of financial solidity where there is no need for additional dilution. The pps spiked on this news and many people were left as bagholders.
14 months on and 3 incremental A/S increases (none of which were PR'ed) later can only lead to the conclusion that the PR was a fake and that George knew (or was reckless in not knowing) that the company would very soon need to dilute the crap out of the share capital to keep the doors open.
A more than compelling legal argument should someone decide to take George to task.
If I am right half the time then I'm doing better than most!