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This is simply because it has become second (or rather, first) nature for companies to lie about everything. Stop lying, and there's no more securities fraud. Be honest.

The "everything is securities fraud"-theory honestly deserves a Wikipedia article by now.

Watch out, wikimedia foundation might not want to disclose forward-looking information like this on their websites.

They could start by citing Matt Levine’s own 2021 introduction to the idea published during the halcyon days of r/wallstreetbets and pandemic markets, titled “Is Everything Securities Fraud”[0] ;-)

[0]: https://www.bloomberg.com/opinion/articles/2021-02-03/goldma...

Well....he's kinda right. There is a staggering amount of fraud in the world these days, and some of the more nefarious propagators of said fraud don't even bother hiding it.

Everything is securities fraud is just a subset of the general idea that everything is fraud. By which we mean, "every company is lying about things, all the time".

Turns out this is trivially true, because the game theory for rational corporations (and its executive decision makers) clearly suggests that on net, lying all the time is very, very profitable.