Yeah, investing in a company is investing in the whole company and all of its projects. Lies about your company are only fraud when the lies rise to the level of making a material difference to how a typical investor would value that company. If the lies are about a very minor percentage of revenue or profit, then it’s not gonna rise to the level of securities fraud.

The actual data compromise happened sometime before July 2022, months before Elon’s purchase of Twitter happened. Telling people they shouldn’t have registered their real phone numbers to Twitter in 2015 or whatever isn’t really a helpful argument to make today.