Today's petition of the day is: 

Apollo Group, Inc. v. Policemen’s Annuity and Benefit Fund of Chicago

Docket: 10-649
Issue(s): 1) Whether a plaintiff, invoking the efficient market theory to avoid having to prove reliance on a misrepresented stock price that caused him loss, is barred from trying to prove loss causation based on a decline in price that happened weeks or months after a corrective disclosure, rather than immediately after the disclosure; and 2) whether a plaintiff may treat an analyst's report that synthesizes and comments on already-public information as a fraud-revealing corrective disclosure that suffices to prove loss causation.

Certiorari stage documents:

Posted in Apollo Group v. Policemen’s Annuity and Benefit Fund of Chicago, Cases in the Pipeline

Recommended Citation: Conor McEvily, Petition of the day, SCOTUSblog (Dec. 14, 2010, 2:38 PM),