Petition of the day
Today's petition of the day is:
Apollo Group, Inc. v. Policemen’s Annuity and Benefit Fund of Chicago
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:
Recommended Citation: Conor McEvily, Petition of the day, SCOTUSblog (Dec. 14, 2010, 2:38 PM), http://www.scotusblog.com/2010/12/petition-of-the-day-58/