If Mark, both through Meta and through his own resources, has the capital to hire and retain the best AI researchers / teams, and claims he's doing so, but puts out a model that sucks, he's liable. It's probably not directly fraud, but if he claims he's trying to compete with Google or Microsoft or Apple or whoever, yet doesn't adequately deploy a comparable amount of resources, capital, people, whatever, and doesn't explain why, it could (stretch) be securities fraud....I think.
If Mark, both through Meta and through his own resources, has the capital to hire and retain the best AI researchers / teams, and claims he's doing so, but puts out a model that sucks, he's liable. It's probably not directly fraud, but if he claims he's trying to compete with Google or Microsoft or Apple or whoever, yet doesn't adequately deploy a comparable amount of resources, capital, people, whatever, and doesn't explain why, it could (stretch) be securities fraud....I think.