The petition of the day is:
Issues: (1) Whether a finding of actual wrongdoing is a legal prerequisite to an investor pleading loss causation based on the announcement of a government investigation into the defendant’s fraudulent practices; and (2) whether an investor who invokes a fraud-on-the-market presumption of reliance is barred from pleading loss causation based on a corrective disclosure that analyzes information already in the public domain but not widely known to the market.
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