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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