(2) Undo the announced seperation of the divisions into two web sites and companies or announce a sale of the newly formed DVD company.
There is no room nor time for him screwing around by delaying things. Delay and controversy equals more damage. He did his thing. He had his fun and he made a lot of money and destroyed a lot of money and 401k's. Now it's time to be a big boy and step down.
As far as a law suit goes, Reed is the only guilty target worth naming and he will hide behind corporate officer insurance.