{"argument_date":"2005-01-12T00:00:00Z","arguments":[{"argument_date":"2005-01-12T00:00:00Z","heading":"What happened at the argument","official_detail_url":"https://www.supremecourt.gov/oral_arguments/argument_transcript/2004","official_transcript_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","paragraphs":["William Sullivan argued that the case presents two different views of necessary loss.","Michael Hungar argued that buying at an inflated price causes no immediate loss.","Justice Breyer asked for a list of problems with the simple theory."],"reargument":false,"sequence":1,"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 18, lines 11-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 18, lines 11-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 28, lines 1-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 28, lines 1-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-29","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 3, lines 17-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 5-15","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 3, lines 5-15"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 31-37","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 4, lines 31-37"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 41-47","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 4, lines 41-47"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 5, lines 23-29","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 5, lines 23-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 5, lines 33-35","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 5, lines 33-35"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 51, lines 43-31","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 51, lines 43-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 52, lines 33-5","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 52, lines 33-5"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 53, lines 31-45","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 53, lines 31-45"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 54, lines 23-47","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 54, lines 23-47"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 54, lines 49-11","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 54, lines 49-11"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 54, lines 7-11","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 54, lines 7-11"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 55, lines 15-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 55, lines 15-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 55, lines 27-27","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 55, lines 27-27"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 56, lines 11-13","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 56, lines 11-13"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 6, lines 49-3","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 6, lines 49-3"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 6, lines 7-15","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 6, lines 7-15"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 7, lines 19-31","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 7, lines 19-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 7, lines 37-39","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 7, lines 37-39"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 8, lines 15-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 8, lines 15-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 8, lines 25-29","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 8, lines 25-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 8, lines 33-43","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 8, lines 33-43"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 9, lines 7-13","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 9, lines 7-13"}]}],"caption":"Dura Pharmaceuticals, Inc. v. Broudo","case_history":[{"changed_at":"2026-08-29T20:06:29.719348Z","explanation":"An official oral-argument transcript was verified.","status":"argued"},{"changed_at":"2026-08-29T20:06:29.721958Z","explanation":"An official oral-argument transcript was verified.","status":"argued"}],"case_status":"argued","dek":"Investors claim Dura Pharmaceuticals misled the market. The company argues they suffered no loss until they sold shares.","dek_sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 18, lines 11-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 18, lines 11-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 28, lines 1-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 28, lines 1-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-29","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 3, lines 17-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 51, lines 43-31","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 51, lines 43-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 54, lines 23-47","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 54, lines 23-47"}],"dispositions":[],"latest_court_document_date":"2005-01-12T00:00:00Z","maturity":"official_transcript","official_detail_url":"https://www.supremecourt.gov/oral_arguments/argument_transcript/2004","official_disposition_urls":[],"official_docket_url":"https://www.supremecourt.gov/docket/docketfiles/html/public/03-932.html","primary_docket":"03-932","revisions":[{"correction_note":"Rewritten to the concise citizen-facing editorial standard.","created_at":"2026-08-31T14:58:54.297187Z","maturity":"official_transcript","revision_number":1},{"correction_note":"Migrated to the dated official Court activity contract without model use.","created_at":"2026-09-05T03:22:24Z","maturity":"official_transcript","revision_number":2}],"schema_version":"1.1","sections":[{"heading":"What this case is about","paragraphs":["This case tests how courts measure financial harm in securities fraud. The dispute centers on the timing of that harm."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 18, lines 11-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 18, lines 11-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 28, lines 1-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 28, lines 1-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-29","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 3, lines 17-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 51, lines 43-31","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 51, lines 43-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 54, lines 23-47","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 54, lines 23-47"}]},{"heading":"How the case got here","paragraphs":["The Supreme Court heard oral argument in this case on January 12, 2005."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 5-15","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 3, lines 5-15"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 54, lines 7-11","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 54, lines 7-11"}]},{"heading":"What each side wants","paragraphs":["Dura Pharmaceuticals wants the Court to require proof of actual sale at a lower price.","Broudo wants the Court to accept a stock price drop as proof of loss."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 18, lines 11-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 18, lines 11-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 28, lines 1-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 28, lines 1-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-29","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 3, lines 17-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 51, lines 43-31","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 51, lines 43-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 54, lines 23-47","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 54, lines 23-47"}]},{"heading":"What each side says","paragraphs":["Dura Pharmaceuticals argues that holding stock at an inflated price is not a loss.","Broudo argues that buying stock at an inflated price is an immediate loss."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 18, lines 11-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 18, lines 11-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 28, lines 1-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 28, lines 1-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-29","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 3, lines 17-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 51, lines 43-31","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 51, lines 43-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 54, lines 23-47","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 54, lines 23-47"}]},{"heading":"What the justices asked","paragraphs":["Justice Scalia asked if the rule looks to market value rather than explicit representations.","Justice Kennedy asked what problems the trial court would face with the lower court opinion."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 31-37","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 4, lines 31-37"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 41-47","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 4, lines 41-47"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 5, lines 23-29","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 5, lines 23-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 5, lines 33-35","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 5, lines 33-35"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 52, lines 33-5","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 52, lines 33-5"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 53, lines 31-45","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 53, lines 31-45"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 54, lines 49-11","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 54, lines 49-11"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 54, lines 7-11","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 54, lines 7-11"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 55, lines 15-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 55, lines 15-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 55, lines 27-27","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 55, lines 27-27"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 56, lines 11-13","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 56, lines 11-13"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 6, lines 49-3","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 6, lines 49-3"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 6, lines 7-15","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 6, lines 7-15"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 7, lines 19-31","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 7, lines 19-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 7, lines 37-39","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 7, lines 37-39"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 8, lines 15-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 8, lines 15-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 8, lines 25-29","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 8, lines 25-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 8, lines 33-43","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 8, lines 33-43"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 9, lines 7-13","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 9, lines 7-13"}]},{"heading":"Why it matters","paragraphs":["This case defines how investors prove financial harm. It sets the standard for measuring loss in market-wide fraud claims."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 18, lines 11-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 18, lines 11-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 28, lines 1-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 28, lines 1-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-29","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 3, lines 17-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 51, lines 43-31","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 51, lines 43-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 54, lines 23-47","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 54, lines 23-47"}]},{"heading":"What happens next","paragraphs":["This article currently covers the argument record. Use the official docket link for later case activity."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 5-15","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 3, lines 5-15"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 31-37","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 4, lines 31-37"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 41-47","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 4, lines 41-47"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 5, lines 23-29","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 5, lines 23-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 5, lines 33-35","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 5, lines 33-35"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 52, lines 33-5","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 52, lines 33-5"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 53, lines 31-45","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 53, lines 31-45"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 54, lines 49-11","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 54, lines 49-11"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 54, lines 7-11","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 54, lines 7-11"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 55, lines 15-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 55, lines 15-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 55, lines 27-27","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 55, lines 27-27"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 56, lines 11-13","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 56, lines 11-13"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 6, lines 49-3","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 6, lines 49-3"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 6, lines 7-15","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 6, lines 7-15"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 7, lines 19-31","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 7, lines 19-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 7, lines 37-39","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 7, lines 37-39"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 8, lines 15-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 8, lines 15-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 8, lines 25-29","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 8, lines 25-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 8, lines 33-43","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 8, lines 33-43"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 9, lines 7-13","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 9, lines 7-13"}]}],"slug":"2004-03-932-dura-pharmaceuticals-inc-v-broudo","term":"2004","title":"Does a stock price drop prove securities fraud loss?","title_sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 18, lines 11-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 18, lines 11-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 28, lines 1-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 28, lines 1-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-29","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 3, lines 17-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 51, lines 43-31","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 51, lines 43-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 54, lines 23-47","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2004/03-932.pdf","page_label":"file page 54, lines 23-47"}],"topics":[],"undated_disposition_date_fallback":null,"updated_at":"2026-09-05T03:22:24Z"}