If you really believe he is lying, why not sell all of your shares?
I don't like the delay, but his credibility and reputation is on the line. If the reduction doesn't happen, then investors won't trust him.
As far as "why" would he give his shares back, I'm guessing there is a salary structure and/or buyout clause the lawyers are working that he will get paid very well rather than stock ownership. My guess, just a guess, is that is what the holdup has been and why it's taken so long to actually happen.
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