In their Law360 article, “How Tariffs Can Affect Event Studies in Securities Litigation,” Consultant Dick Oosthuizen, Senior Managing Director Lucy Allen, and Managing Director Jorge Baez show how the recent increase in market-wide volatility, including in response to the 2025 tariff announcements, can cause traditional event studies to produce incorrect conclusions. The authors illustrate how the traditional event study methodology can mistakenly attribute broad market movements to a firm-specific event, like an alleged fraud, when the observed impact actually reflects substantially heightened volatility across the broader market. This can cause traditional event studies to produce spurious findings of materiality and price impact in securities cases.