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Midas Edge

BASSETT FURNITURE INDUSTRIES INC BSET (last ticker on record)

CIK 10329Its SEC filings (opens in a new tab)

  • SEC/DOJ scrutiny
  • 95% wipeout
  • Delisting notice (not a red flag)
  • Restatement
  • 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 Oct 2009
Largest fall in its shares
95%
Feb 2004 to Mar 2009
Law firms
2
Linked to 5 or more companies
Lawyers
0
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. Said its accounts could not be relied on (Item 4.02)Form 8-K (opens in a new tab)
  3. Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
  4. Shares down 95% from their high
  5. Exit or disposal costs (Item 2.05)Form 8-K (opens in a new tab)
  6. Exit or disposal costs (Item 2.05)Form 8-K (opens in a new tab)
  7. SEC administrative actionSEC order (opens in a new tab)
  8. SEC administrative proceedingSEC order (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.