This is kinda crazy.
For starters, yes, racism and alleged threats are bad.
I don't think Riot should have any say over this matter. If it was a matter of an Echo Fox shareholder threatening others outside the EF org, sure. But this was all in-house and if not made public by Rick Fox wouldn't have been widely known.
The threat seems to be that EF would be booted out of LCS because of racist slurs in emails between two EF part owners...why does this give Riot an opening to drop the hammer?
And dare I add, given the very ugly reveals of culture that festered in Riot for years, who are they to judge morally when they didn't dump founding members?