In any event, since Paul is the purported injured party here, he's the one who'd have standing to bring a suit. And if he has anyone remotely competent advising him, he's not going to be interested in embarrassing himself this way.
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Julian, this seems pretty reasonable- it boils down to whether RP would launch such a suit, and I don't see that coming from him at this time. If anyone with legal expertise has something to add, though, I'd be interested to learn more.
The larger problem is that the MSM covers elections like a 'horse race', only reporting on their idea of who's up, who's down. (Really only a step away from TMZ-like celebrity coverage...) They don't have interest or experience in delving into real policy discussions. Therefore, they hear the words "winding down" (especially coming from RP's communications staff), and automatically make the jump to "dropping out". They take their cues from what Romney, Huck, etc. have done, and think RP is doing the same.
To them, there's no difference. But WE know that RP is not a conventional candidate running a conventional campaign, expecting conventional results- the man said so himself!