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Corporate and Securities Research

William A. Schwesig was2@uchicago.eduMargaret A. Schilt schilt@uchicago.edu

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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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