Terms and Conditions

By using this site, you signify your assent to the following terms and conditions of use without limitation or qualification. If you do not agree to these terms, do not use this site. Please read these conditions carefully before using this site. Empirical Research Partners, LLC. may, at any time, revise these terms and conditions by updating this posting. You are bound by any such revisions and should therefore periodically visit this page to review the then current terms and conditions to which you are bound. This site is for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy any security which may be referenced herein. Empirical Research Partners, LLC.’s privacy policy forms part of these terms and conditions.


The information provided on this site is provided for informational purposes only. While Empirical Research Partners, LLC. seeks to provide accurate and timely information, there may be inadvertent technical or factual inaccuracies and typographical errors. We reserve the right to make changes and corrections at any time, without notice. The information provided on Empirical Research Partners, LLC.’s site is provided “AS IS” and without warranties of any kind either expressed or implied. To the fullest extent permissible pursuant to applicable law, Empirical Research Partners, LLC. disclaims all warranties, including, but not limited to, implied warranties of merchantability and fitness for a particular purpose. Empirical Research Partners, LLC. does not warrant, either expressly or impliedly, the accuracy or completeness of the information, text, graphics, links or other items contained on this site and Empirical Research Partners, LLC. expressly disclaims all liability for errors and omissions in these materials and for the use or interpretation by others of information contained on the site. Empirical Research Partners, LLC. will not be responsible for any loss or damage that could result from interception by third parties of any information made available to you via this site. Neither Empirical Research Partners, LLC., nor any of its affiliates, directors, officers or employees, nor any third party vendor retained by Empirical Research Partners, LLC. will be liable or have any responsibility of any kind for any loss or damage that you incur in the event of any failure or interruption of this site, or resulting from the act or omission of any other party involved in making this site or the data contained therein available to you, or from any other cause relating to your access to, inability to access, or use of the site or these materials, whether or not the circumstances giving rise to such cause may have been within the control of Empirical Research Partners, LLC. or of any vendor providing software or support services for this site. In no event will Empirical Research Partners, LLC., its affiliates or any such parties be liable to you for any direct, special, indirect, consequential, incidental damages or any other damages of any kind even if Empirical Research Partners, LLC. or any other party have been advised of the possibility thereof.

Nothing contained in Empirical Research Partners, LLC.’s site constitutes investment advice. Neither the information, nor any opinion contained in this site constitutes a solicitation or offer by Empirical Research Partners, LLC. or its affiliates to buy or sell any securities, futures, options or other financial instruments, nor shall any such security be offered or sold to any person in any jurisdiction in which such offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction. Decisions based on information contained on Empirical Research Partners, LLC.’s site are the sole responsibility of the visitor, and in exchange for using Empirical Research Partners, LLC.’s site, the visitor agrees to hold Empirical Research Partners, LLC. harmless against any claims for damages arising from any decisions that the visitor makes based on such information.

Restrictions on Use of Materials

This website is owned and operated by Empirical Research Partners, LLC. Permission is granted to display and navigate this site with a computer using HTML browser software, solely for personal, non-commercial use. Any commercial or public use of this website or any portion hereof is strictly prohibited.

Except as otherwise permitted by Empirical Research Partners, LLC., no materials from this site may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way. You may download material displayed on this site for non-commercial, personal use only provided you also retain all copyright and other proprietary notices contained on the materials. You may not distribute, modify, transmit, reuse, repost, or use the content of this site for public or commercial purposes, including the text, images, audio, and video without Empirical Research Partners, LLC.’s written permission. Modification or use of the materials for any other purpose violates Empirical Research Partners, LLC.’s intellectual property rights.

Empirical Research Partners, LLC. neither warrants nor represents that your use of materials displayed on this site will not infringe rights of third parties not owned by or affiliated with Empirical Research Partners, LLC.


Electronic Mail (email) submitted to this site should be considered neither secure nor confidential. Empirical Research Partners, LLC. makes no representation whatsoever concerning the security or confidentiality of your email messages and specifically makes no representation that any email message submitted through this site will be received by Empirical Research Partners, LLC.

Any communications or material you transmit to this website by electronic mail or otherwise, including data, questions, comments, or suggestions will be treated as non-confidential and nonproprietary and will become the property of Empirical Research Partners, LLC. or its affiliates. Such communications or material shall be used for any purpose, including, but not limited to, reproduction, disclosure, transmission, publication, broadcast, and posting. Furthermore, Empirical Research Partners, LLC. is free to use any ideas, concepts, know-how, or techniques contained in any communication you send to this website for any purpose whatsoever, including, but not limited to, developing and marketing products using such information.

Positions in Companies Mentioned

Empirical Research Partners, LLC., or one or more of its or their officers, directors, members, affiliates or employees, or accounts over which they have discretion, may at any time hold, increase or decrease positions in securities of any company mentioned herein. Empirical Research Partners, LLC., or its or their affiliates may provide investment management or other services for such companies or employees of such companies or their pension or profit sharing plans, and may give advice to others as to investments in such companies. These entities may effect transactions that are similar to or different from those mentioned herein.

Trademarks and Copyrights

Empirical Research Partners, LLC. owns this site. All trademarks, service marks, trade names, and logos displayed on this site are proprietary to Empirical Research Partners, LLC. or are being used by Empirical Research Partners, LLC. pursuant to licenses with third parties. Nothing contained on the website should be construed as granting, by implication, estoppel, or otherwise, any license or right to use any trademark displayed on this website without the written permission of Empirical Research Partners, LLC. or such third party that may own the trademarks displayed on this website. Your use of the trademarks displayed on this website, except as provided herein, is strictly prohibited.

Images displayed on this website are either the property of, or used with permission by, Empirical Research Partners, LLC. The use of these images by you, or anyone else authorized by you, is prohibited unless specifically permitted herein. Any unauthorized use of the images may violate copyright laws, trademark laws, the laws of privacy and publicity, and communications regulations and statutes. If you download any information or software from this site, you agree that you will not copy it or remove or obscure any copyright or other notices or legends contained in any such information.

Use of Links

Should you leave this site via a link contained herein, and view content that is not provided by Empirical Research Partners, LLC., you do so at your own risk. The content to which you link will not have been developed, checked for accuracy, or otherwise reviewed by Empirical Research Partners, LLC. Empirical Research Partners, LLC. is not responsible for damages or losses caused by any delays, defects or omissions that may exist in the services, information or other content provided in such site, whether actual, alleged, consequential or punitive. Empirical Research Partners, LLC. makes no guarantees or representations as to, and shall have no liability for, any electronic content delivered by any third party, including, without limitation, the accuracy, subject matter, quality or timeliness of any electronic content.

Integration and Serverability

If any provision of these terms is deemed unlawful, void, or for any reason unenforceable, then that provision will be deemed severable from these terms and will not affect the validity and enforceability of the remaining provisions. The preceding terms and conditions of use represent the entire agreement between Empirical Research Partners, LLC. and the user relating to the subject matter herein.


Empirical Research Partners, LLC. reserves the right to terminate your access to the Site at Empirical Research Partners, LLC.’s sole discretion. In the event of a termination, Empirical Research Partners, LLC. shall have no liability to you and no refund for any pre-paid amounts will be given.

Jurisdiction and Governing Law

This website is controlled and operated by Empirical Research Partners, LLC. from offices within the State of New York, United States of America. Empirical Research Partners, LLC. makes no representation that materials on the site are appropriate or available for use in other locations, and access to them from territories where their content is illegal is prohibited. Those who choose to access this site from other locations do so on their own initiative and are responsible for compliance with applicable local laws. You may not use or export the materials on this site in violation of U.S. export laws and regulations.

The information provided on this site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject Empirical Research Partners, LLC. or its affiliates to any registration requirement within such jurisdiction or country.

The laws of the State of New York govern these terms and conditions. If you take legal action relating to these terms and conditions, you agree to file such action only in the New York State Supreme Court, or the United States District Court for the Southern District of New York, and you consent and submit to the personal jurisdiction of those courts for the purpose of litigating any such action.

In the United States, the research, services and products available herein are being made available through Empirical Research Partners, LLC. Any U.S. person viewing this site and wishing to effect securities transactions in any security discussed herein should do so only through Empirical Research Partners, LLC.

All rights reserved. Your use of this site signifies that you accept our Terms and Conditions of Use.