Illinois Central Railroad v. Ruoff

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that a public float between 31% and 43% supported market efficiency
• finding that twenty market makers supported market efficiency
• finding numerosity where defendant was “a publicly traded company with more than 32.9 million shares outstandingand an average weekly trading volume of approximately 6 million shares during the Class Period”
• finding statistically significant price reaction to 42% of the events studied
• “If the stock price is significantly more likely to change on News Days than on Non-News Days, that suggests a causal relationship between material news and the stock price.”
• “The Court is satisfied that CCME’s 20-market-maker average supports a presumption of market efficiency.”

Source: CourtListener parenthetical corpus (CC0).