This is great. But it containts no threat to the BOD for continuing to do Business As Usual.

Could "shareholders...rise up as a group" to carry out some legal threat to the BOD if they don't carry out these steps or their equivalents?

The tone here implies that we'll like the BOD better if they take these steps. But the BOD doesn't care what we think about them, because the current state of affairs doesn't compel them to.