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 it is affected by different categories of announcements. A simplified version of the event study methodology was used in this paper and the average absolute and abnormal returns were calculated. A negative correlation between the values of stock prices and the price changes caused by public announcements was observed; that is consistent with the previous studies.