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Notes -
It's pretty rich to claim that that's "victimless", because if that is true, it would have undercut the justification for the case. That case is clearly premised on securities fraud harming either existing shareholders or shareholders who bought shares based on the fraudulent claims. Moreover, it is inconceivable that this had "zero pressure" from a victim (or at least a self-proclaimed victim), because lots of people think they're "victims" of climate change (and thus, any potentially fraudulent statements made about it). It's the foundation of the case, whether or not it is ultimately flawed, and that foundation is contrary to how you've portrayed it.
This is vastly better binned in the Matt Levine category of "Everything Is Securities Fraud". We know, it is baked in, that literally any conceivable case of securities fraud (literally "Everything", says Levine) will at least be attempted at some point. It's like Rule 34 for a particular statute.
But yeah, if you think that the Trump case is most akin to an area where everyone pretty much agrees that it's all just lawfare, grasping at every possible iteration of a theme, often specifically to pursue specific political goals (like climate change) rather than focusing on remedying fraud-as-traditionally-understood, then I think the point is actually made.
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