Suppose that you observe the following statistically significant pattern: the average stock return over the next 30 days after dividend cuts is -4% across all stocks for the last 30 years. There is no evidence that dividend cuts make firms less risky. What does this evidence imply for market efficiency?

A.	The evidence suggests that studying publicly available information can deliver returns without taking risk.
	B.	Weak-form efficiency is violated.
	C.	The drift after dividend cuts is likely due to insider trading.
	D.	Given this evidence, financial markets cannot be weak-form efficient.