Editor's Note :

Editor's Note :

On Monday morning the court hears oral argument in Lucia v. Securities and Exchange Commission. Ronald Mann has our preview.
On Monday morning the court also hears oral argument in Pereira v. Sessions. Jennifer Chacon has our preview.
On Monday afternoon the court hears oral argument in Chavez-Meza v. United States. Susan Klein has our preview.

Briefly Mentioned :

Briefly Noted :

The Supreme Court will release orders from the April 20 conference on Monday at 9:30 a.m. There is a possibility of opinions on Tuesday at 10 a.m.

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

Petition for certiorari denied on March 7, 2011
Docket No. Op. Below Argument Opinion Vote Author Term
10-649 9th Cir. N/A N/A N/A N/A OT 2010

Issue: 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.

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