Terms Of Service
These Terms of Service govern current and past reports of Fuzzy Panda Research which you may view or download from the FuzzyPandaResearch.com or SeekingAlpha.com websites.
By downloading from or viewing material on this website and/or by reading any report on this website, you agree to the following Terms of Service. You agree that any use of the research on this website or in any report on this website is at your own risk. In no event will you hold Fuzzy Panda or any affiliated party, including officers, directors, employees, consultants, and agents of Fuzzy Panda or any companies affiliated with any of them, liable for any direct or indirect losses caused by your use of or reliance on information on this site or in any Fuzzy Panda report. You further agree that you will not rely on any information on this website or in any Fuzzy Panda report, to do your own research and due diligence before making any investment decision with respect to companies or securities mentioned on this website or in any Fuzzy Panda report, and that you will consult with your own investment professionals prior to any investment decisions. You represent that you have sufficient investment sophistication to critically assess the information, analysis and opinions on this website or in any report. You further agree that you will not communicate the contents of the materials on this site or in any Fuzzy Panda report to any other person unless that person has agreed to be bound by these same Terms of Service. If you access this website, or download or receive any Fuzzy Panda report or the contents of other materials on this site, as an agent for any other person, you are binding your principal to these same Terms of Service.
As of the publication date of any Fuzzy Panda report, Fuzzy Panda, and possibly any companies affiliated with it or its members, partners, employees, consultants, clients and/or investors (the “Fuzzy Panda Affiliates”), have a short position in the stock (and/or options, swaps, and other derivatives related to the stock) and bonds of the company covered in the report (the “Covered Company”). Fuzzy Panda and the Fuzzy Panda Affiliates therefore stand to realize significant gains in the event that the prices of either equity or debt securities of the Covered Company declines. There are many factors that can go into a decision to cover the short position(s) in the Covered Company’s securities and it is not possible to predict exactly when or for exactly what reasons Fuzzy Panda and the Fuzzy Panda Affiliates may cover their positions, in whole or part, or otherwise change their investment holdings. As a general matter, Fuzzy Panda and the Fuzzy Panda Affiliates intend to cover some or all of their positions at a time that the price of the Covered Company’s securities are lower than when they were sold short or otherwise invested in. Fuzzy Panda and the Fuzzy Panda Affiliates may cover some or all of their short positions immediately after the publication of a report or an indefinite period after its publication. Similarly, Fuzzy Panda and the Fuzzy Panda Affiliates may cover some or all of their short positions if the price of the Covered Company’s securities move a small amount or after moving a larger amount. Fuzzy Panda and the Fuzzy Panda Affiliates intend to continue transactions in the Covered Company’s securities for an indefinite period after the publication of a report, and they may be short, neutral, or long at any time after the publication of a report regardless of any opinions, possible stock prices or valuations, or other views stated in the report. Fuzzy Panda will not update any report or information on this website to reflect any changes in the investments of Fuzzy Panda or the Fuzzy Panda Affiliates that existed at the time of the publication of a report, or any new positions in any securities of the Covered Company.
This website and all Fuzzy Panda reports are informational and describes the opinions of Fuzzy Panda. This website and all Fuzzy Panda reports are not offers to buy or sell, or solicitations of an offer to buy or sell, any security, and Fuzzy Panda does not offer, sell or buy any security to or from any person through this site or reports on this site. This website and Fuzzy Panda’s reports are not recommendations or advice to short or otherwise invest in or trade any security. Fuzzy Panda does not render investment advice to anyone unless it has an investment adviser-client relationship with that person evidenced by a formal written agreement. You understand and agree that Fuzzy Panda does not have any investment advisory relationship with you, or owe any fiduciary or other duties to you. Giving investment advice requires knowledge of your financial situation, investment objectives, and risk tolerance, and Fuzzy Panda has no such knowledge or information about you.
If you are in the United Kingdom, you confirm that you are accessing research and materials as or on behalf of: (a) an investment professional falling within Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “FPO”); or (b) high net worth entity falling within Article 49 of the FPO.
Fuzzy Panda’s website and reports express the opinions of Fuzzy Panda, which are based upon generally available information, field and online research, and inferences and deductions through due diligence and the analytical process. Fuzzy Panda believes that all information contained on this website and in its reports has been obtained from accurate and reliable public sources, and no material nonpublic information was obtained from any person who had a duty to keep information confidential. However, Fuzzy Panda cannot be certain that the information it has relied upon is accurate. The information and opinions on this website and in any Fuzzy Panda report are therefore presented “as is,” without warranty of any kind, whether express or implied. Fuzzy Panda makes no representation, express or implied, as to the accuracy, timeliness, or completeness of any such information or with regard to the results to be obtained from its use. This website and Fuzzy Panda’s reports also contains forward looking statements about what may occur in the future. The future cannot be predicted with certainty and any of the forward-looking statements about projections, beliefs, assumptions, outcomes, or any other future event may be incorrect. Among other things, any forward-looking statements may be rendered inaccurate by incorrect assumptions, incorrect methodologies, unforeseen risks and events, or other variables. Any opinions about the possible future stock price of a Covered Company or fair value of its securities is not a price target and does not mean or imply that Fuzzy Panda or the Fuzzy Panda Associates will hold any investment until such price or valuation is met. Further, all expressions of opinion, including any conclusions drawn from Fuzzy Panda’s analysis, are subject to change without notice, and Fuzzy Panda does not undertake to, and will not, update or supplement the website or any reports, or any of the information, analysis and opinion contained in them.
You agree that the expressions of information on this website and in Fuzzy Panda’s reports are copyrighted and owned by Fuzzy Panda Research, and you therefore agree not to distribute any of its reports, any excerpts from them, or any information on this website (whether the downloaded file, copies / images / reproductions, or the link to these files) in any manner other than by providing the following link: www.fuzzypandaresearch.com. If you have obtained Fuzzy Panda’s research in any manner other than by accessing or downloading from that link, you may not read such research without going to that link and agreeing to the Terms of Service. You further agree that any dispute between you and Fuzzy Panda and/or any of the Fuzzy Panda Affiliates arising from or related to the material on this website or Fuzzy Panda’s reports shall be governed by the laws of the State of California, without regard to any conflict of law provisions. You knowingly and independently agree to submit to the personal and exclusive jurisdiction of the state and federal courts located in California and waive your right to any other jurisdiction or applicable law. The failure of Fuzzy Panda to exercise or enforce any right or provision of these Terms of Service shall not constitute a waiver of such right or provision. If any provision of these Terms of Service is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties’ intentions as reflected in the provision and rule that the other provisions of these Terms of Service remain in full force and effect, in particular as to this governing law and jurisdiction provision. You agree that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to this website or any Fuzzy Panda report must be filed within one (1) year after such claim or cause of action arose or be forever barred.