Spring 2009D'Angelo Law Library1 Corporate and Securities Research William A. Schwesig...
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Spring 2009 D'Angelo Law Library 1
Corporate and Securities Research
William A. Schwesig [email protected] A. Schilt [email protected]
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What if you don’t have anything in mind and need a topic?
Try the News databases in LexisNexis and WestlawTry 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 personA companyA transactionAn industryIssuance of a security
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Starting with a Company
History
CorporateStructure
Stock performanceEarnings
Stock ownership
Recent stockissuances
Recent mergers or acquisitions
Products and services
Litigation
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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
ExperienceExpertiseEducation
Positions-current and past
CompensationInvestmentsStock holdings
Directorships?Officer positions?Associations?
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Find out more about Sanjiv Sidhu
LexisNexis News and Business > Company & Financial > Company Directors & Executives
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?
How?
Who?
When?
Where?
Why?
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I2 Technologies approved a management buyout of its wholly-owned 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 benefite
d
Who was hurt
Terms
Players: management,
Board, accountants,
lawyers
Condition of company
before and after
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Resources to UseLexisNexis business resourcesSEC filings (See Terms Sheet for definitions and Bill Schwesig’s demo for examples)
Company websites (esp. for transaction docs)
Corporate governance websites; current awareness databasesPrint treatisesCommercial 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 LewisBill SchwesigLyonette Louis-JacquesMargaret SchiltTodd Ito
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Corporation and Securities Research
Bill SchwesigSpring 2009
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Research Guides
Corporate and Securities Researchon DLL web page, under Research Guides www.lib.uchicago.edu/e/law/corpsec.html
Business and Economicswww.lib.uchicago.edu/e/busecon/
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Business News
EBSCO Business Source Complete– full text with images, charts, PDFABI Inform – business journals and tradesLexisNexis Westlaw Factiva – full text searching, news pagesWall Street Journal on ProQuestBloomberg terminal
Corporate Governance Plans
Investor Relations section ofCompany web siteSpecific 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 Report10-Q Quarterly Report8-K Current Report(Bad News)Proxy materialsBylaws and articles
Registration StatementsInsider TradingSale of Restricted SharesWilliams Act (Tender Offers)Material Contracts
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Annual Reports (10-K)
Description of the Company’s BusinessManagement DiscussionFinancials – Income, Revenues, Debt, Cash FlowOutstanding Shares, Institutional OwnershipOfficers and Directors, CompensationMaterial Contracts, Stock Option Plans
Executive Compensation
Salaries: Form 10-KExecutive employment contracts:Exhibit 10, Material ContractsTotal cash value of nonsalary compensation: Proxy materials (Schedule 14A)
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Sources of EDGAR Filings
Securities and Exchange CommissionMergent OnlineThomson One BankerLexisNexisWestlaw
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SEC
Free at www.sec.gov1993 to presentLook 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 inFilings and exhibits are separate documentsEdgar 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
Peer Comparison Reports: Thomson One Banker
Select “Comparables”Options include:
1. Overviews2. Performance3. Financials4. EarningsNo custom reports
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Comparison Reports: Factiva
1. Companies/Markets tab2. Select: Company3. Search by name or ticker in Get
Company Snapshot4. Select Reports (lower left)5. Select Ratio Comparison Report
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