An Event Study of Patent Verdicts and Judicial Leakage

Bryan Engelhardt and Zachary Fernandes
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Zachary Fernandes: Board of Governors of the Federal Reserve System

No 1602, Working Papers from College of the Holy Cross, Department of Economics

Abstract: To check for the impartiality of the United States judicial system, we investigate whether judicial decisions are leaked prior to their public release. Utilizing an event study methodology, we test for leaked information by analyzing the effect of patent infringement verdicts on the stock prices of the firms involved before and after the public release of the verdict. We find evidence that at least some of the decisions are leaked prior to their public release.

Keywords: event study; patent infringement; judicial leakage; insider trading; trial court; appellate court (search for similar items in EconPapers)
JEL-codes: G14 K41 (search for similar items in EconPapers)
Pages: 23 pages
Date: 2016-07
New Economics Papers: this item is included in nep-cse, nep-ino, nep-ipr and nep-law
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Persistent link: https://EconPapers.repec.org/RePEc:hcx:wpaper:1602

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