OldBen, from $4 down to cellar boxed, each and every shareholder of record on the date of each and every reverse split can be accounted for.
Naked short positions, existing as "book entries" with the brokers, would have been reversed just like every other legal share and short. The problem with that is they would have been reverse splitting an illegal position.
So not only did they illegally sell and manipulate the PPS from $4 down to no bid, they also illegally reverse split shares that had no right being in the system.
Those ill-gotten gains should be seized, forfeited, and distributed to shareholders of record.
Those truly "scammed" deserve to be compensated for being the victims of a crime. How could anyone disagree with shareholders being made whole, or close to it.