SEC and Manipulation

So, Isn’t the SEC supposed to prevent market manipulation? Wouldn’t 100 different articles about DeepShit released by 50 different news organizations within an hour of each other at 4am be a red flag for blatant manipulation? I mean it seems like most of the traders here are intelligent enough to see through the smoke, But the dumb money and institutional money can obviously make big shifts fast.

Without recourse, this happens time and time again. What is preventing lawsuits to keep this BS in check? I would think a big lawsuit could be filed for the massive drop, breaking records over blatant misinformation and manipulation should be loud enough for lawmakers to take notice.. I would hope so..