Welcome and Introduction 

These Websites (www.valueline.com, www.valuelinepro.com, and www.valuelinelibrary.com, together the “Websites”) are owned and operated by Value Line, Inc., and its affiliates (collectively, “Value Line”). The Websites provide a variety of products, services, and data that may be made available through software tools, user portals and customer interfaces, and printed publications like The Value Line Investment Survey (collectively, “Value Line Services”). Please read the terms of this agreement (the “Terms”) carefully. If you do not agree to these Terms, do not access or view these Websites, their content, the Value Line Content or Services, or seek access to Value Line’s research (the “Information”). These Terms govern your access to and use of the Value Line Services and Content, including the data, ranking system, and software provided within the Value Line Services.

Privacy and Your Personal Information 

Your use of the Value Line Services is subject to Value Line’s Global Privacy Policy [https://www.valueline.com/privacy-policy] (the “Global Privacy Policy”). Our collection and use of personal information in connection with the provision of Value Line Services are governed by the Global Privacy Policy [https://www.valueline.com/Privacy.aspx]. Your use of the Value Line Services confirms that you have read and accepted the Global Privacy Policy. You expressly acknowledge and agree that the use and storage of any information available through Value Line Services is at your sole risk and responsibility. You consent to Value Line processing in accordance with applicable law any personally identifiable information (“PII”) or data that you disclose to them.

Registration data and other personal information about you are subject to our Global Privacy Policy. If you access a Value Line Service using a password, you are solely responsible for maintaining the confidentiality of that password. You must create a strong password. You can change your password at any time in the user portal. We do not store your password. Do not share your username or password with anyone. You are responsible for all activity that occurs under them. Notify us immediately if you suspect unauthorized use of your account.

VALUE LINE DOES NOT SELL CUSTOMER OR USER DATA OR PII. 

YOUR COMPLIANCE WITH THESE TERMS AND CONDITIONS AND ALL OTHER AGREEMENTS IS A CONDITION TO YOUR RIGHT TO ACCESS AND USE THE VALUE LINE SERVICES. YOUR BREACH OF ANY PROVISION OF THESE TERMS AND CONDITIONS OR OTHER AGREEMENTS WILL AUTOMATICALLY, WITHOUT THE REQUIREMENT OF NOTICE OR OTHER ACTION, REVOKE AND TERMINATE YOUR RIGHT TO ACCESS THE VALUE LINE SERVICES. YOU WILL BE FULLY LIABLE FOR CLAIMS AND CAUSES ARISING FROM OR RELATING TO YOUR CONTINUED USE OF THE SITE AFTER SUCH BREACH. UNAUTHORIZED USE OF THE VALUE LINE SERVICES, INCLUDING, BUT NOT LIMITED TO, MISUSE OF PASSWORDS OR POSTED INFORMATION, IS STRICTLY PROHIBITED.

Electronic Communications 

Visiting the Value Line Websites or sending emails to Value Line constitutes as electronic communications. By providing your email address to Value Line, you consent to receive electronic communications from us, including blogs and newsletters. You also acknowledge that all agreements, notices, and disclosures that we provide to you electronically satisfy any legal requirement that such communications be in writing. You agree to notify us promptly if you change your address or email so we can continue to contact you and send any notices required. If you fail to notify us promptly of a change, then any notice we send to your old address or email shall be deemed sufficient notice.

Access Restriction

If you use the Websites or Value Line Services, you are responsible for restricting access to your computer and your account credentials. You acknowledge that Value Line is not responsible for third party access to your account resulting from theft or misconduct to your account. You represent and warrant that you are at least eighteen years of age. Value Line does not knowingly collect, either online or offline, personal information from persons under the age of eighteen.

Use Of Financial Content Is At User’s Own Risk

The Value Line Services include a variety of tools, such as certain rankings, financial information, and explanatory information related to publicly traded equities and investment vehicles. These investment vehicles may consist of common stock, options, convertibles, bonds and mutual funds, software, media, and services (collectively, the “Financial Content”; together with the IP content, the “Content”). Your use of the Content is entirely at your own risk. It’s your sole responsibility to evaluate the accuracy, completeness, and usefulness of the Content.

You may make one offline copy of the Financial Content for your own personal use. You may not otherwise copy, modify, adapt, reproduce, republish, download, translate, reverse engineer, decompile, disassemble, distribute, sublicense, assign or use any aspect of the Value Line Services or Content except as expressly provided in this agreement.

Warranty & Liability Disclaimers 

Value Line disclaims all express and implied warranties, including warranties of merchantability, fitness for a particular purpose, title, compatibility, security, suitability, reliability, availability, accuracy, non-infringement, and usefulness, with respect to the Value Line Services and the Content. We shall not be liable for any errors or omissions in the Content. We shall not be liable for any loss or damage that may result from its use or non-performance. The Value Line Services and all Content are provided “as is” and on an “as available” basis without warranties of any kind, either expressed or implied. These can include warranties of merchantability or fitness for a particular purpose. Neither Value Line nor any of its Licensors ⁽¹⁾ , suppliers, or vendors warrants that the Value Line Services and Content will be accurate, complete, uninterrupted, or free of other harmful components.

IF YOU ARE DISSATISFIED WITH ANY PORTION OF THE WEBSITES OR ANY OF THESE TERMS, EXCEPT AS REQUIRED BY APPLICABLE LAW, YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USING THE WEBSITES AND SERVICES.

Limitation of Liability

 To the maximum extent permitted by applicable law, in no event and under no circumstances shall Value Line and its affiliates be liable for any direct, indirect, incidental, special, punitive or consequential damages. These damages may include loss of revenue, lost business, lost profits, or lost sales. Whether foreseeable or not, we are not liable for damages from your use of any Value Line Services or Content that result from mistakes, omissions, interruptions or deletions of files, errors or defects in the Value Line Services or Content, delays in operation, transmission or failure of performance. Because some states or jurisdictions do not allow the exclusion or limitation of liability for consequential or incidental damages, this limitation may not apply to you. If you are dissatisfied with any of the Value Line Services or Content, or with any of the terms and conditions, your sole and exclusive remedy is to discontinue using the Value Line Websites and Services.

Value Line Investment Survey 

Officers, directors, and employees of Value Line, and EULAV Asset Management (“EULAV”), may hold stocks that are reviewed or recommended in the Value Line Services. EULAV also manages investment companies and other accounts that use the rankings and recommendations the Value Line Services. These accounts, the officers, directors, and employees of Value Line may dispose of a security notwithstanding the fact that The Value Line Investment Survey (“The Survey”) ranks the issuer favorably. Conversely, such accounts or persons may purchase or hold a security that is poorly ranked by The Survey. Some of the investment companies managed by EULAV only hold securities with a specified minimum Timeliness Rank by The Survey and dispose of those positions when the Timeliness Rank declines or is suspended. Additional rank-related information is made available internally. Value Line’s portfolio managers also may have access to publicly available information. This can result in or influence a change in rankings or recommendations, such as earnings releases, changes in market value, or disclosure of corporate transactions. The investment companies or accounts may trade upon such information prior to a change in a ranking. While the rankings in The Survey are intended to be predictive of future relative performance of an issuer’s securities, The Survey is not intended to constitute a recommendation of any specific security. Any investment decision with respect to any issuer covered by The Survey should be made as part of a diversified portfolio of equity securities and in light of an investor's particular investment objectives and circumstances.

Copyright and Intellectual Property 

The Value Line Websites, materials, and all intellectual property rights (the “IP Content”), are the exclusive property of Value Line, or have been duly licensed to Value Line. These may only be used for lawful purposes. Except when explicitly provided, nothing in these Terms shall be deemed to create a license in or under any such IP Content. You agree not to sell, license, sublicense, rent, modify, distribute, copy, reproduce, transmit, publicly display, publicly perform, publish, redistribute, adapt, edit or create derivative works. All Content and IP Content provided by these Websites is proprietary information, and Value Line owns all intellectual property rights. You agree not to decompile, reverse engineer, or disassemble it. You may only use the Content and IP Content pursuant to these Terms. If you want to use Value Line copyrighted or trademarked materials in your works (e.g., books, publications), please email your request to mbernstein@valueline.com. All rights are reserved.

Value Line, the Value Line Logo, The Most Trusted Name in Investment Research, The Value Line Investment Survey, “Smart research. Smarter investing.”, Value Line Select, The Value Line Special Situations Service, and Timeliness and Safety are trade names or registered trademarks of Value Line, Inc. and/or its affiliates in the United States and other countries (“Value Line Trademarks”). Nothing contained on this website grants any license or right to use any of the Value Line Trademarks without the written permission of Value Line. All other brands and names are the property of their respective owners. You may not use, adopt, or attempt to register anywhere in the world, whether alone or together, any mark, symbol, name, trade name/mark, or service name/mark that is similar to the Value Line Trademarks.

If you believe that your work has been copied in a way that constitutes copyright infringement, please provide Value Line with the following information, as required by the Online Copyright Infringement Liability Limitation Act of the Digital Millennium Copyright Act, 17 U.S.C. Sec. 512: 

 (a) a physical or electronic signature of a person authorized to act on behalf of the owner of an exclusive right that is allegedly infringed; 

 (b) identification of the copyright work claimed to have been infringed, or, if multiple copyrighted works at a single online site are covered by a single notification, a representative list of such works at that site; 

 (c) identification of the material that is claimed to be infringing or to be the subject of infringing activity and that is to be removed or access to which is to be disabled, as well as information reasonably sufficient to permit us to locate the material; 

 (d) information reasonably sufficient to permit us to contact the complaining party; 

 (e) a statement that the complaining party has a good-faith belief that use of the material in the manner complained of is not authorized by the copyright owner, its agent, or the law; and 

 (f) a statement that the information in the notification is accurate, and under penalty of perjury, that the complaining party is authorized to act on behalf of the owner of an exclusive right that is allegedly breached.

For copyright inquiries under the Digital Millennium Copyright Act, please contact: 

 Phone: 1-800-825-8354
Website: www.valueline.com or www.valuelinepro.com
 Email: privacy@valueline.com

Value Line
Att: Data Protection Officer
551 Fifth Avenue, 3rd Floor
New York, New York 10176 

Upon receipt of a copyright inquiry under the Digital Millennium Copyright Act, Value Line will remove, or disable access to, the material claimed to be infringing.

You recognize and agree that by uploading any and or all content (“User Generated Content”) through the website, you confirm that you own all the relevant rights. If necessary, you also confirm that you received the appropriate license to upload, transfer, or send the User Generated Content. You agree and consent that the uploaded or transferred User Generated Content may be publicly displayed at the Websites. You agree that you will not submit or otherwise publish any User Generated Content that: 

 (a) is libelous or defamatory; 

 (b) is obscene, pornographic, or otherwise offensive; 

 (c) is abusive or harmful (or threatens to abuse or harm) to any person or entity; 

 (d) infringes another person’s or entity’s intellectual property rights or any other rights, including copyrights, trademark, or the right of publicity or privacy; 

 (e) violates any law or regulation; 

 (f) advocates illegal activity; 

 (g) advertises a product or service; or 

 (h) solicits funds, goods, or services. 

 If you submit or publish any User Generated Content that violates this agreement, Value Line may terminate your account at its sole discretion.

The Value Line Services and Content are provided only for personal use by one non-professional client or for professional use by one Professional Client ⁽²⁾ . All forms of sub-licensing, reselling, republication or any forms of distribution , including internet posting, electronic mailing, faxing, archiving in a public database, redistributing via a computer network, or in a printed form, to other parties of any Value Line Services or Content , including username and password information, are strictly prohibited.

Limited Right to Use & Access Termination 

Value Line grants you a limited right to use the Value Line Services and Content. Your right to use the Value Line Services and Content is subject to your agreement to abide by these Terms. In its sole discretion, Value Line may deny you access to all or part of the Value Line Services or Content without notice if you engage in any conduct or activities that we believe violates applicable law or any term of this agreement.

Indemnification 

You agree to defend, reimburse, and hold Value Line, Inc. and its affiliates harmless from any and all claims, damages, liabilities, costs and expenses. These cost and expenses include reasonable attorneys’ fees arising from or related to: (a) any violation of this agreement or any use of the Value Line Services and Content by you or authorized users of your account, or (b) Value Line’s use of any content or information you provide. In defending such claim, you shall do so with due diligence and propriety and keep us informed of developments.

User’s Representations and Warranties 

You represent and warrant that: 

 (a) you have full authority and all rights necessary to enter into and fully perform all of your obligations pursuant to these Terms; 

 (b) you have and will not enter into any agreement or perform any act which might contradict the purposes and/or effects of these Terms; 

 (c) your use of the Value Line Services and Content is in compliance with law; and 

 (d) you will not interfere with or delete any Value Line Services and Content. 

You are responsible for all conditions required on your side to access and use the Value Line Websites, Services, and Content, such as sufficient Internet connection and bandwidth, the hardware and/or software you use, and establishment of data connection points. You are expected to provide appropriate security devices and virus scanners on your devices. You acknowledge and agree that your use of these Websites and Value Line Services is at your sole risk. You assume full responsibility and risk of loss, including loss of data, resulting from your downloading or use of the Content or Information from the Websites and Services. Although we may take reasonable steps to prevent viruses and other destructive materials, we do not represent or warrant that the Content and Information are free of such destructive features.

You will not use these Websites or Services for any purpose that is unlawful or prohibited by these Terms. You may not use the Websites or Services in any manner which could damage, disable, overburden, or impair the website by interfering with any other party’s use of the website. You may not obtain or attempt to obtain materials through any means not intentionally made available or provided for through the Websites. You agree to comply with all applicable laws, including those regarding the accessing and exporting of data.

Confidentiality 

All Content, IP Content, and Information provided by the Websites or through the Value Line Services is our (or our providers) confidential and proprietary information and we (or our providers) own all intellectual property rights. You agree to protect the confidential and proprietary nature of the Content, IP Content, and Information. You agree to maintain the confidentiality of the Web IDs. You agree not to 

(a) copy, sell, rent, sub-license, redistribute, or make it available in any way to a third party; 

 (b) decompile, reverse engineer, or disassemble it; 

 (c) incorporate the Content, IP Content, or Information into any of your products of services, or publish or install it on a website that is visible to anyone other than an employee of yours or accessible to any computers other than those belonging to you; 

 (d) use for, in, or to develop, or to create any other service, new or competing form, of the Content or Information.

You may only use the Content and Information inside of your organization. In the event that you employ a third party (an “Administrator”) to administer any of the Content or Information on your behalf, any use of the Content or Information by an Administrator for any purpose other than facilitating your use of the Content and Information shall be a breach of these Terms for which you shall be responsible.

Links to Third Party Websites or Services 

The Websites may contain electronic hyperlinks to other third-party websites (“Linked Sites”). Value Line offers these hyperlinks as an accommodation to you and other users. It doesn’t make any representations with respect to the accuracy, quality, or suitability of the content provided on the Linked Sites. We are not responsible for the practices of such other websites and sponsoring companies. When you leave our Websites by means of a hyperlink, you are subjecting yourself to policies and practices employed by the operators of Linked Sites.

Websites Security 

Value Line makes no warranty whatsoever to you regarding the security of the Value Line Services or Websites. This includes the ability of unauthorized persons to intercept or access information transmitted by you through this service.

You may not violate or attempt to violate the security of the Value Line Services. Tampering with any portion of the Value Line Services, providing untruthful or inaccurate information, misrepresenting your identity, or conducting fraudulent activities on the Value Line Services, whether or not through the use of agents, are prohibited and constitute a breach of these Terms. You are prohibited from violating or attempting to violate the security of the Value Line Services, including: 

(a) accessing data not intended for you or logging onto a server or an account which you are not authorized to access; 

 (b) disabling, removing, defeating, or avoiding any security device or system, such as any password and login functionality used to authenticate users; 

 (c) attempting to probe, scan, or test the vulnerability of a system or network or to breach security or authentication measures without proper authorization; 

 (d) attempting to interfere with service to any user, host, or network, including means of submitting a virus to any Value Line Services, overloading, “flooding,” “spamming,” “mailbombing,” or “crashing;” 

 (e) sending unsolicited email, including promotions and/or advertising of products or services; 

 (f) forging any TCP/IP packet header or any part of the header information in any email or posting; 

 (g) using or attempting to use any engine, software, tool, agent, or other device or mechanism (browsers, spiders, robots, avatars, intelligent agents) to navigate or search the Value Line Services other than the search engine and search agents available within the Value Line Services or generally available third party web browsers; 

 (h) reverse engineering, decompiling, or disassembling the underlying software; 

 (i) removing any notices, warnings, labels, annotations, patent, trademark, copyright, proprietary notices, license provisions, or instructions from any portion of the Value Line Services and Content; or 

 (j) otherwise invading the privacy of, obtaining the identity of, or obtaining any personal information about any user of the Value Line Services.

Any violations of system or network security including attempts to intentionally access a computer without authorization or exceed your authorized access level may be a violation of law. Value Line may investigate occurrences involving violations with law enforcement authorities to prosecute these users. Without prior notice or warning, we may restrict or terminate the access of any and all users to the Value Line Services if necessary. We may also restrict or terminate access to prevent the further spread of a virus, security breach, or system malfunction.

Services Availability 

Value Line strives to keep the Value Line Services available on a continuous basis. You acknowledge that the websites may be occasionally unavailable due to such periodic maintenance or to other unexpected interruptions. Value Line is not responsible for inaccessibility during these downtimes. Value Line also reserves the right to further develop the functions and uses of the Websites and Services. The Websites and Services may need to be updated periodically for error corrections, functional improvements, adaptation of compatibility to the hardware, and closure of possible security vulnerabilities. You agree that such reasonable updates may be installed automatically. Temporary restrictions on availability of the Value Line Services and Content may also result from maintenance work or circumstances beyond our reasonable control.

Fees and Charges 

You agree to pay the subscription fees and any other charges acquired in connection with your user name and password (including any applicable taxes) at the rates in effect when the charges were incurred. Subscription fees will be billed at the beginning of your subscription or any renewal. Unless we state in writing, all fees and charges are nonrefundable. We will provide advance notice if there are changes in fees or added charges.

Forward-Looking Statements 

Certain statements published on the Websites on the Content are forward-looking. Such forward-looking statements may use words such as “anticipate,” “estimate,” “expect,” “project,” and “believe” in connection with a discussion of potential future events or circumstances. These forward-looking statements are based on certain assumptions and reflect our current reasonable expectations. Forward-looking statements are subject to a number of risks that could cause actual results or events to differ materially from such statements. You should not rely on forward-looking statements. Value Line disclaims any intention or obligation to update or revise any forward-looking statements.

Value Line Arithmetic & Geometric Indices 

Value Line Arithmetic & Geometric Indices are calculated and supplied by Thomson Reuters.

Updates or Amendments 

Value Line may modify the Value Line Services and Content or these Terms at any time. You will be notified of these changes in writing or through a notice on the Websites. Value Line makes no guarantee that the Content or Information offered through any Value Line Services will remain available for any specific period of time. Revised Terms will be effective when posted on the Websites or otherwise made available to you. The revised Terms supersede any previous versions. Your continued use of the Value Line Websites and Services after such notice will constitute acceptance by you of such changes.

Arbitration 

Any and all controversies or claims arising out of or relating to the Terms shall be brought, resolved, and determined by final and binding arbitration administered by the American Arbitration Association (“AAA”) under its Commercial Arbitration Rules (the “Rules”). The arbitration shall be conducted by one arbitrator appointed compatible to the Rules. The arbitration shall be conducted in New York, New York, USA. The arbitration award shall be final and binding on the parties. The award may be entered and enforced in any court having jurisdiction over the parties or their assets, wherever located. A party may seek injunctive, declaratory, or other provisional judicial relief in an applicable court in New York, New York. The existence and outcome of the arbitration shall remain confidential unless both parties agree to its disclosure. The prevailing party shall be entitled to full and prompt reimbursement from the other party for all the prevailing party’s reasonable out-of-pocket expenses and costs associated with the arbitration. The costs may consist of attorneys’ fees and institutional or arbitrator fees.

No Class Action 

Any arbitration under these Terms will take place on an individual basis. Class arbitrations and class, representative, or collective actions are not permitted. The parties agree that a party may bring claims against the other only in their individual capacity and not as a plaintiff or class member in any presumed class action. Unless both you and Value Line agree otherwise, the arbitrator may not consolidate more than one person’s claims. They may not otherwise preside over any form of a representative or class proceeding.

Governing Law 

This agreement shall be governed, interpreted, construed, and enforced exclusively in accordance with the law of the State of New York, USA (excluding its law of conflict of laws). Use of this website is unauthorized in any jurisdiction that does not give effect to all provisions of these Terms, including this section.

Severability 

In the event that any portion of this agreement is held to be unenforceable, the unenforceable portion shall be construed in accordance with applicable laws to reflect the original intentions of the parties. The remainder of the provisions shall remain in full force and effect.

Waiver 

Value Line’s failure to insist upon or enforce strict performance of any provision of this agreement or any of its Terms shall not be construed as a waiver of any provision or right. Neither the course of conduct between parties nor trade practice shall act to modify any provision of this agreement. The failure of Value Line to act with respect to a breach of these Terms by you or others does not constitute a waiver and will not limit Value Line’s rights with respect to such breach or subsequent breaches.

Contact Us 

Value Line will be pleased to assist you with any queries, explanations, or questions concerning these Terms. You can reach us at: 

Phone: 1-800-825-8354
Website: www.valueline.com, www.valuelinepro.com, www.valuelinelibrary.com
Email: privacy@valueline.com 

Value Line
Att: Data Protection Officer
551 Fifth Avenue, 3rd Floor
New York, New York 10176

Last Modified Date 

November 13, 2020 

⁽¹⁾ Licensors include, but not limited to, TSX Inc., and Standard & Poor’s Financial Services LLC and its affiliates and third-party licensors. 

⁽²⁾ It is Value Line’s policy that individuals who are affiliated with firms registered as brokers or investment advisors with the SEC and/or FINRA or are Financial Planners, CPA’s, Legal Counsel, academic entities, or offer life insurance products or annuities or are affiliated with banks, trust institutions, government agencies or the representatives of government agencies, or are using Value Line research for commercial purposes are considered Professional Clients and must have a Professional subscription. Each professional individual requiring online access to our research must have their own license.