By John Esmay and Philip Leggio ( January 2, 2020, 5:41 PM EST) -- In securities fraud cases, plaintiffs often hire experts to conduct event studies to establish that a company's stock traded in an efficient market. Experts generally rely on, and courts tend to require, the scientific standard of a 95% confidence level to determine that a price change in the company's stock in response to firm-specific news is statistically significant and reliable evidence of market efficiency.[1]...
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