Absolutely.
Your last sentence says it all. Why/how do they keep getting away with it? You'd think that after 20 plus 'failures' bells would start to ring with the authorities!
Investors tend to favour self regulation.
The Companies Acts and the Dutys and Responsibilities of Directors. In particular the fact that "professionally qualified persons" are the only one's held up to the highest standards of their profession. If you are not qualified.................
The Law on Libel & Defamation - the costs of non-compliance.
The cost of building a case.
Restraint of Trade Legislation.