Transcript Corporate and Securities Research

Corporate and Securities Research
William A. Schwesig
Margaret A. Schilt
Spring 2009
[email protected]
[email protected]
D'Angelo Law Library
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What if you don’t have anything in mind
and need a topic?
Try the News databases in LexisNexis and
Westlaw
Try the BNA topical newsletters: see the Law
Library webpage under Law Databases
Read the D’Angelo Law Library Corporate and
Securities Research page, on the Law Library
website under Research Guides
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Example: Finding a topic
BNA databases
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Starting Points
As with all legal research, where you start depends
on what information you have and what you are
trying to find out. Possibilities:
A person
A company
A transaction
An industry
Issuance of a security
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Starting with a Company
History
Stock
ownership
Recent stock
issuances
Corporate
Structure
Litigation
Recent mergers
or acquisitions
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Products and
services
Stock performance
Earnings
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Find out more about
i2 Technologies, Inc.
LexisNexis News and Business
>Company & Financial > Company
Profiles & Directories > U.S. Company
Reports
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Starting with a Person
Experience
Expertise
Education
Positionscurrent
and past
Directorships?
Officer positions?
Associations?
Compensation
Investments
Stock holdings
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Find out more about Sanjiv Sidhu
LexisNexis News and Business >
Company & Financial > Company
Directors & Executives
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Find out more about John P. McPadden, Sr.
Sometimes Google is helpful.
If not, try Martindale Hubbell (possible
that nominal plaintiff is a lawyer…)
Try searching the business press using
Ebsco Business Source Complete and
Factiva.
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Starting with a Transaction
Merger?
Acquisition?
Sale of assets?
Loan?
Issuance of
stock?
Who?
When?
Where?
Why?
How?
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I2 Technologies approved a
management buyout of its whollyowned subsidiary, Trade Services
Corporation (TSC)
LexisNexis News and Business >
Company & Financial > Mergers &
Acquisitions > Mergerstat M&A
Database
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Financial Filings:
LexisNexis and Westlaw
LexisNexis > News & Business > Company &
Financial > Financial Filings > U.S. Financial Filings

Note the database structure: can search individual filings
across companies
Westlaw > All Databases > Business & News >
Company & Industry Reports, Analysis > Edgar-SEC
Filings

Template permits searching by company name and form
number (try i2 Technologies and 8-K and then search in
results for TSC)
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Finding industry information
Use SIC/NAICS codes to find companies
with similar businesses
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Finding information about the issuance of a
particular security: using CUSIP numbers
Type of
security – debt
or equity
Purchasers
Who was hurt
Who
benefited
Condition of company
before and after
Terms
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Players: management,
Board, accountants,
lawyers
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Resources to Use
LexisNexis business resources
SEC filings (See Terms Sheet for definitions and Bill
Schwesig’s demo for examples)
Company websites (esp. for transaction docs)
Corporate governance websites; current
awareness databases
Print treatises
Commercial business research resources, e.g.
Thomson Research, Factiva(see Bill Schwesig’s demo
below)
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Human Resources
At the Reference Desk:
Sheri Lewis
Bill Schwesig
Lyonette Louis-Jacques
Margaret Schilt
Todd Ito
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Corporation and Securities
Research
Bill Schwesig
Spring 2009
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Research Guides
Corporate and Securities Research
on DLL web page, under Research Guides
www.lib.uchicago.edu/e/law/corpsec.html
Business and Economics
www.lib.uchicago.edu/e/busecon/
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Business News
EBSCO Business Source Complete– full text
with images, charts, PDF
ABI Inform – business journals and trades
LexisNexis
Westlaw
Factiva – full text searching, news pages
Wall Street Journal on ProQuest
Bloomberg terminal
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Corporate Governance Plans
Investor Relations section of
Company web site
Specific issues, in EDGAR filings
• Bylaws (Form S-1, Exhibit 3)
• Proxy materials (Schedule 14A)
• Management discussion (Form 10-K)
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EDGAR Filings
10-K
Annual Report
10-Q
Quarterly Report
8-K Current Report
(Bad News)
Proxy materials
Bylaws and articles
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Registration
Statements
Insider Trading
Sale of Restricted
Shares
Williams Act
(Tender Offers)
Material Contracts
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Annual Reports (10-K)
Description of the Company’s Business
Management Discussion
Financials – Income, Revenues, Debt,
Cash Flow
Outstanding Shares, Institutional
Ownership
Officers and Directors, Compensation
Material Contracts, Stock Option Plans
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Executive Compensation
Salaries: Form 10-K
Executive employment contracts:
Exhibit 10, Material Contracts
Total cash value of nonsalary
compensation: Proxy materials
(Schedule 14A)
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Sources of EDGAR Filings
Securities and Exchange Commission
Mergent Online
Thomson One Banker
LexisNexis
Westlaw
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SEC
Free at www.sec.gov
1993 to present
Look up companies by name, ticker, SIC
code or by Central Index Key (CIK)
Documents and exhibits are separate
hyperlinked documents
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LexisNexis
Search all filings and exhibits, or select the
forms you are interested in
Filings and exhibits are separate documents
Edgar Online searches all filings and exhibits
Disclosure – financial reports compiled from
data in EDGAR filings
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Westlaw
EDGAR – good for full-text searching
Many Westlaw business databases not
available on our Law School
subscription plan are available on
Westlaw Business, LexisNexis, or
Thomson One Banker
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Peer Group Analysis
Mergent Online (link to guide)
Thomson One Banker
Factiva
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Peer Comparison Reports:
Thomson One Banker
Select “Comparables”
Options include:
1. Overviews
2. Performance
3. Financials
4. Earnings
No custom reports
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Comparison Reports: Factiva
1. Companies/Markets tab
2. Select: Company
3. Search by name or ticker in Get
Company Snapshot
4. Select Reports (lower left)
5. Select Ratio Comparison Report
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