The connotation I have is: information that is incorrect, yet widely believed and frequently cited, such as "It's illegal to shout 'fire!' in a crowded theater."[1]

The dictionary definition seems to include deliberate misinformation for deceptive purposes, but I might call that "disinformation" instead.

[1] https://en.wikipedia.org/wiki/Shouting_fire_in_a_crowded_the...