I can tell you exactly what went on here, it's pretty easy:
1. Link funded Product 3 LLC to gather the funds for Craigs iControlPad 2 production.
2. After successful funding, Link sent some money to my company (to fulfill the PCB production and buy all the needed parts) and some to Craig (to fullfill the case production and buy the needed parts as well as to handle shipping within Europe). He only kept the money needed for the shipments within US. I don't know that, but the designer (Michael Weston) has probably been paid to do his job as well.
3. The bare PCBs have been produced, 100 have been populated, the parts are lying around at the company. That part is finished. Nothing has been heard from Craig what happened to the case and / or the money.
4. Therefore, the full thing has been cancelled. The production company is currently trying to sell the remaining parts. I've got approx. 10,000 EUR left for the production run, which will then be transferred back to Link together with the money for the sold parts (whenever they have been sold...)
That's what went on.
It has already been posted.
And weekly updates wouldn't change anything, as I doubt Link will hear anything else from Craig at all anymore, and as long as the parts haven't been sold, there's nothing to be updated as well.
Your legal action will bring nothing new to the public - it will make public if Link did any fraud, but as far as I know he didn't - he simply hasn't been delivered with the ordered iCP2s by iControlPad Ltd. in UK.
A legal action against Link will not bring to the public whatever Craig did - and that's the issue.