Can a company give false guidance during Earnings report in order to profit from cheaper shares?

They could potentially buyback shares at a cheaper price, or execs could just buy some shares during trading windows when it’s legal for them to “buy the dip”, because they know it’s temporary since the next earnings report will crush expectations.
It’s not even suspicious if they buy a lot of shares after the report, since they can justify that there was a dip worth buying / overreaction / that they believe in the company long term etc.