Before revision:  Across all cases decided by the Supreme Court of the United States between the 1999-2013 terms, we identify 79 cases where the share price of one or more publicly traded company moved in direct response to a Supreme Court decision. In the aggregate, over fifteen years, Supreme Court decisions were responsible for more than 140 billion dollars in absolute changes in wealth.
After revision:  Across all cases decided by the Supreme Court of the United States between the 1999-2013 terms, we identify 79 out of the 211 cases (37\%) exhibit an average abnormal return of 4.4\% over a two-session window with an average |t|-statistic of 2.9. Finally, we observe that abnormal returns following Supreme Court decisions were responsible for more than 140 billion dollars in absolute changes in wealth.