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  "documentTitle": "Industry meta-study: 24 firms that sued short sellers (2018-2025)",
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      "text": "These new results, together with the facts that suing firms rarely achieve profitable settlements and firms can refute allegations conveniently without legal filings, provide further support for Brendel and Ryans’ hypothesis that target firms predominantly file lawsuits as a “bluffing strategy.”",
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      "text": "long-term stock performance: -72.0%",
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      "text": "Abstract: A previous empirical study by Brendel and Ryans (2021) has shown that stocks of firms that choose litigation to respond to short seller reports exhibit a strong price underperformance in the long run...",
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