Investors can now find real-time insight into whether an entity, market or industry is the subject of litigation at the exact time a lawsuit is filed – and assess the likely impact on its stock price – with the Court Wire app, a product offering to the investor community available on Eikon, Thomson Reuters Corp (NYSE:TRI)’s flagship financial markets desktop.
Court Wire combines data from Thomson Reuters legal research provider Westlaw, Thomson Reuters tick history data, and the analytical features of Eikon to create a one-stop source for equity traders and other buy-side professionals to make investment decisions based on a legal action.
The app provides automatic alerts in a trader’s stock portfolio when a lawsuit has been filed against a corporation and charts historical data to show how the stock prices of other companies and industries have reacted in similar circumstances. This analysis empowers financial professionals to make quick, informed investments.
Phil DeFrancesco, managing director, global head of equities desktop, Thomson Reuters, commented:
Adverse legal actions and settlements can be among the greatest threats to a company’s stock price, both in the short- and long-term. That makes it imperative for investors to have comparative historical data. By drawing on existing, industry-leading content and products from across Thomson Reuters, the Court Wire app offers equity traders a time-saving analytical tool to stay informed of and analyze corporate litigation and incorporate that analysis into their trading strategies.
The Court Wire application offers users customizable, timely alerts and search criteria, visual movement of real-time and historical price changes, summaries of complex legal cases, and, utilizing Eikon charting and reporting tools, the ability to create interactive visualizations and competitive analysis. These features are all designed to provide traders with a streamlined and efficient workflow.
Court Wire reporters monitor over 200 key courts in the U.S., including all federal courts, collecting new cases as they are filed. Report filings are customizable and delivered to clients hours, days, or in some cases weeks before the cases are scheduled on a court docket. Reporters provide a concise synopsis of the key legal issues in each filing so clients can understand the essence of a case quickly, react faster, and work more efficiently.