You are thinking of Steem as shareholder equity. Steem is probably not.
His Steem Power was practically nulled, the Steem is still there.
How does converting Steem to Steem Power change cryptocurrency to share holder equity from a legal perspective? It doesn't. Further anyone can buy or earn Steem and convert it to Steem Power without actually agreeing to anything. If I make you an account, there is no TOS. There is definitely no TOS to shitpost.
His ability to convert has been hampered, but he stated himself he has no immediate plans, he also didn't publically ask for anything to be done except a meeting on March 6. I'm sure he consulted lawyers. Maybe he ca wait until then to actually declare some sort of lawsuit. But I doubt he will.
Some of the witnesses are barely known others don't live antwhere that can be brought to US justice. Crypto is barely regulated.
A lawsuit would be an expensive mess that would destroy the value of Steem. It makes no sense and serves the interest of neither party and any competent judge would recognize this.