GENCO SHIPPING & TRADING LTD GNK (last ticker on record)

CIK 1326200Its SEC filings (opens in a new tab)

Bankruptcy
Restructuring
Delisting notice (not a red flag)
Restatement
95% wipeout

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 Jan 2016
Largest fall in its shares: 98%; Jul 2014 to Aug 2016
Law firms: 11; Linked to 5 or more companies
Lawyers: 7; Linked to 5 or more companies

What happened

Feb 26, 2016Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
Jan 14, 2016Shares down 95% from their high
Sep 18, 2015Said its accounts could not be relied on (Item 4.02)Form 8-K (opens in a new tab)
Apr 30, 2015Said its accounts could not be relied on (Item 4.02)Form 8-K (opens in a new tab)
Jul 7, 2014Bankruptcy or receivership (Item 1.03)Form 8-K (opens in a new tab)
Apr 21, 2014Bankruptcy or receivership (Item 1.03)Form 8-K (opens in a new tab)
Apr 21, 2014Debt accelerated (Item 2.04)Form 8-K (opens in a new tab)
Apr 21, 2014Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
Sep 10, 2007Delisting notice (Item 3.01)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.

Law firms linked to this company
Name	First linked	How it is known	Linked companies	SEC/DOJ scrutiny	Went dark	95% wipeout
Herbert Smith	Jul 2026	Named in a filing	90	1.01	0.00	0.65
Sidley Austin	May 2026	Named in a filing	1,210	1.30	0.14	0.93
Milbank Tweed Hadley & McCloy	May 2015	Named in SEC correspondence	439	1.03	0.35	0.76
Reeder & Simpson	Oct 2005	Named in a filing	47	0.65	0.60	1.49
Kramer Levin Naftalis	Jun 2005	Named in SEC correspondence	304	0.95	0.68	1.16
Baker Botts L.L.P.	May 2005	Named in SEC correspondence	495	1.32	0.09	1.03
Seward & Kissel	May 2005	Named in SEC correspondence	164	0.78	0.19	1.28
Vinson & Elkins L.L.P.	May 2015	Text search only	783	1.09	0.11	1.03
Weil, Gotshal & Manges LLP	May 2015	Text search only	1,051	1.31	0.27	0.91
White & Case	Jun 2005	Text search only	907	1.04	0.33	0.91
Gibson, Dunn & Crutcher LLP	May 2005	Text search only	1,125	1.23	0.20	0.96

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.

Lawyers linked to this company
Name	First linked	How it is known	Linked companies	SEC/DOJ scrutiny	Went dark	95% wipeout
Emanuel S. CherneyKaye Scholer	May 2015	Named in SEC correspondence	7	1.75	4.92	4.00
David E. ZeltnerWeil, Gotshal & Manges LLP	May 2015	Named in SEC correspondence	18	1.32	1.66	0.96
Dennis J. ReederReeder & Simpson	Feb 2007	Named in a filing	30	0.61	0.00	1.74
Thomas E. MolnerKramer Levin Naftalis	Jun 2005	Named in SEC correspondence	11	0.62	2.18	6.30
Gary J. WolfeSeward & Kissel	May 2005	Named in SEC correspondence	47	1.08	0.00	2.65
Ted W. ParisBaker Botts L.L.P.	May 2005	Named in SEC correspondence	10	1.14	0.00	3.72
Robert E. LustrinSeward & Kissel	May 2005	Text search only	40	1.29	0.55	3.08