DELTA FINANCIAL CORP DFCLQ (last ticker on record)
CIK 1021848Its SEC filings (opens in a new tab)
- Restructuring
- 95% wipeout
- Bankruptcy
- Delisting notice (not a red flag)
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
- 3
- Newest began Dec 2007
- Largest fall in its shares
- 99%
- Dec 2007 to Nov 2008
- Law firms
- 4
- Linked to 5 or more companies
- Lawyers
- 2
- Linked to 5 or more companies
What happened
- Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
- Bankruptcy or receivership (Item 1.03)Form 8-K (opens in a new tab)
- Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
- Shares down 95% from their high
- Debt accelerated (Item 2.04)Form 8-K (opens in a new tab)
- Exit or disposal costs (Item 2.05)Form 8-K (opens in a new tab)
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.
- Morrison & FoersterFirst linked Jul 2004 · Named in SEC correspondence · 825 linked companiesSEC/DOJ scrutiny 1.17× · Went dark 0.55× · 95% wipeout 1.15×
- Stroock & Stroock & LavanFirst linked Oct 1996 · Named in a filing · 178 linked companiesSEC/DOJ scrutiny 0.98× · Went dark 0.78× · 95% wipeout 0.96×
- Ropes & GrayFirst linked Jul 2001 · Text search only · 914 linked companiesSEC/DOJ scrutiny 0.98× · Went dark 0.14× · 95% wipeout 0.92×
- Morris Nichols Arsht & TunnellFirst linked May 2001 · Text search only · 256 linked companiesSEC/DOJ scrutiny 1.51× · Went dark 0.21× · 95% wipeout 0.89×
| Name | First linked | How it is known | Linked companies | SEC/DOJ scrutiny | Went dark | 95% wipeout |
|---|---|---|---|---|---|---|
| Morrison & Foerster | Jul 2004 | Named in SEC correspondence | 825 | 1.17 | 0.55 | 1.15 |
| Stroock & Stroock & Lavan | Oct 1996 | Named in a filing | 178 | 0.98 | 0.78 | 0.96 |
| Ropes & Gray | Jul 2001 | Text search only | 914 | 0.98 | 0.14 | 0.92 |
| Morris Nichols Arsht & Tunnell | May 2001 | Text search only | 256 | 1.51 | 0.21 | 0.89 |
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.
- Anna T. PinedoMorrison & FoersterFirst linked May 2001 · Named in a filing · 51 linked companiesSEC/DOJ scrutiny 1.13× · Went dark 0.00× · 95% wipeout 0.70×
- James R. TanenbaumMorrison & FoersterFirst linked Sep 1996 · Named in SEC correspondence · 46 linked companiesSEC/DOJ scrutiny 1.41× · Went dark 1.54× · 95% wipeout 1.14×
| Name | First linked | How it is known | Linked companies | SEC/DOJ scrutiny | Went dark | 95% wipeout |
|---|---|---|---|---|---|---|
| Anna T. PinedoMorrison & Foerster | May 2001 | Named in a filing | 51 | 1.13 | 0.00 | 0.70 |
| James R. TanenbaumMorrison & Foerster | Sep 1996 | Named in SEC correspondence | 46 | 1.41 | 1.54 | 1.14 |