Suppose a firm is involved in major litigation and is expected to lose its case, which would
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Suppose a firm is involved in major litigation and is expected to lose its case, which would cost the firm millions of dollars. Surprisingly the firm wins the case and immediately the stock price jumps. Is the observation of the price increase consistent with the semi strong form of the efficient market hypothesis? Explain.
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Financial Management Concepts and Applications
ISBN: 978-0132936644
1st edition
Authors: Stephen Foerster
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