The previous studies have shown that there is a relation between values of stock prices and the price changes caused by public
announcements. Thus the aim of this paper is to examine if the respective relation can be observed in Lithuanian stock market
and how this relation is affected by different categories and types of announcements. The research covers public announcements
issued by companies listed in Vilnius Stock Exchange. Simplified version of event study methodology was used in this paper and
average absolute and abnormal returns were computed. Most of the results in this paper are consistent with the previous studies
and a negative correlation between the values of stock prices and the price changes caused by public announcements was
estimated.