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I think only if anyone believed him. Since no one does it has no material effect on the stock price.

So if nobody believes him, why is he a highly compensated executive? Shouldn't he be relieved of all responsibilities? Even if he owns a majority of controlling shares, that should be a red flag that the guy in charge has no clue what he's doing. It's wild that we just treat this behavior as normal.

Well, sorry, the point is that if no one believed him, it's clear he misspoke because he is highly competent. People are not jailed for misspeaking.

Also, any kind of charge for securities violation requires more than misleading public statements. There needs to be intention to deceive and intention to capitalize on that deceit, probably neither are here either

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