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I'm not a lawyer, BUT...
I can think of a few grounds, actually. Something that has not been said enough is that the Linden Lab ToS/Community Standards are NOT Law. That is a contract, and in one case has been tossed out as a Contract of Adhesion. I do think that the only way such a suit could work to affect change would be to bring Linden Lab into it. They *do* have the ability to do something, they simply have chosen for years to not do something.
The first grounds I would think of, and the one probably with the most merit, would be what Bragg is trying to establish with his case with respect to 'property' in Second Life - if Linden Lab says it is a hosting service, then they are permitting third parties to detract from other people's real investments... if they say that people actually *own* the land, then people could say that ad spam is devaluing their property, etc.
The one I prefer: People's experiences are being adversely affected, and Linden Lab is cashing in as people raise their tier to buy out the extortionists - they are, in that way, aiding and abetting as far as I am concerned. People spend real money dealing with these idiots with their ad farms - I know I have in the past, and I know others have as well. Linden Lab has basically said that it is a community issue by their inaction. It is extortion. I think someone in a jury box would go with that - a Linden Lab attorney would have to use the waivering "its only a game" defense which their own press undercuts them on... so Linden Lab probably would stay out of it.
I'm no lawyer. However, I do believe in the jury system - and I think that if all of this were trotted out in front of a jury with the numbers converted to $US, the jury would nod on the suit. I know that if I were a juror, someone would be paying.