Yes, the classic logical fallacy.
It's perfectly legal to yell fire in a theater.
{"Anyone who says 'you can't shout fire! in a crowded theatre' is showing that they don't know much about the principles of free speech, or free speech law—or history," Foundation for Individual Rights and Expression President Greg Lukianoff
wrote in 2021. "This old canard, a favorite reference of censorship apologists, needs to be retired. It's repeatedly and inappropriately used to justify speech limitations."}
SCOTUS Justice Alito recently repeated the common misconception that "shouting 'fire' in a crowded theater" is unprotected speech.
reason.com
Simply stated, you are free to shout "fire," but will be held responsible for the reaction caused. IF you create a panic and people are hurt or die, you can face criminal charges - for the damage cause. You may also face civil suits.