That appears to be more like someone asking pertinent questions before handing over their money than part of the contract between them. That he lied or misled in his answers knowingly or unknowingly would put him more in the wrong.
There's no evidence he lied or mislead. In fact, he explained the factual basis for his incorrect conclusion and those he spoke to drew the same incorrect conclusion from the same facts.
Patrick didn't say, "trust me that X" or "I have secret knowledge that X". He said, "Because of facts A, B, and C, I conclude X". The facts A, B, and C were true. However, the conclusion X did not follow from them. If Patrick is responsible for the damages this mistake caused, so are the other parties who made the very same mistake and made the very same damages occur, drawing the same incorrect conclusion from the same correct facts.
Both parties had facts A, B, and C. Those facts were correct.
Both parties concluded X from A, B, and C. X was incorrect and did not follow from A, B, and C.
Both parties acted on X, jointly causing a loss.
Thus both parties are responsible for the loss and should share it.