Please answer the following question about EMH.

The following figure shows the cumulative abnormal returns (CAR) on a target com- pany's stock before and after takeover attempts: Cumulative abnormal return 36.000 32.000 28.000 24.000 20.000 16.000 12.000 8.000 4.000 0.000 -4.000 - 8.000 - 12.000 - 16.000 -135 - 120 -105 -90 -75 -60 -45 - 30 - 15 0 15 30 Days relative to announcement date If this pattern is statistically robust, is the (semi-strong form of) EMH violated