There are potential repercussions. A false claim of infringement leaves the claiming party open to liability for it. In practice this may not be easy to take advantage of, but it is there.
Part of the problem is that when your home video is wrongfully taken off of YouTube, it's hard to argue damages during the time it was offline if/when you turn around and sue the label.
Arguing a perjury case is also probably a losing battle. Even if you win, it seems doubtful that you would recover any of the lost time, lost wages and/or sunk costs of lawyer fees.
Also, if you won a perjury case, would it be against 'the company' or just the individual that signed off on that particular notice?
So even if you turn around and attempt to pursue legal avenues against wrongful take-downs, there is not much to be gained.
