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Midas Edge

FOOTSTAR INC FTS.PK (last ticker on record)

CIK 1011308Its SEC filings (opens in a new tab)

  • 95% wipeout
  • Bankruptcy
  • SEC/DOJ scrutiny
  • Restructuring

These figures describe clients, not conduct. A lawyer or firm can serve many companies that later had trouble for reasons that have nothing to do with their work, and nothing here says any lawyer or firm did anything wrong.

Red flags
4
Newest began Apr 2008
Largest fall in its shares
99%
Dec 2000 to Mar 2010
Law firms
6
Linked to 5 or more companies
Lawyers
4
Linked to 5 or more companies

What happened

  1. Exit or disposal costs (Item 2.05)Form 8-K (opens in a new tab)
  2. Exit or disposal costs (Item 2.05)Form 8-K (opens in a new tab)
  3. A filing mentions a grand jury subpoenaForm 8-K (opens in a new tab)
  4. A filing mentions a Wells noticeForm 8-K (opens in a new tab)
  5. Bankruptcy or receivership (Item 1.03)Form 8-K (opens in a new tab)
  6. A filing mentions cooperating with the SECForm 10-K (opens in a new tab)
  7. Shares down 95% from their high

An SEC release can name a company’s officer, or its stock as what a scheme sold or moved, so the company may be the victim. Each link goes to what to read.

Law firms

The ratios are about all the companies linked to each one, this one included: how many had that outcome, as a multiple of what comparable companies show. 1.00 means no more than expected.

Lawyers

The ratios are about all the companies linked to each one, this one included: how many had that outcome, as a multiple of what comparable companies show. 1.00 means no more than expected.