If you think you are right, please take the matter to court. You will find, like pmorici already has, that your interpretation is FOS and won't hold water. 
I don't need to take it to court because I haven't invested in this failure. It was clear from the moment that they promised full BTC refunds that something is fishy.
Now the real question is who burned more money? BFL or HashFail? Who do you think wins here?
Good for you! It's nice that you won't have to waste your money on lawyers only to be proven wrong, like silly pmorici (who should know better) did and was.
I think BFL burned more money, as they had a ton more customers over their 3(?) generations of products.
Please note that while BFL was raided and caught wasting money on personal expenses, HF is being allowed to try and pull out of their tailspin via Chapter 11.