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Midas Edge

National CineMedia, Inc. NCMI (last ticker on record)

CIK 1377630Its SEC filings (opens in a new tab)

  • Restatement
  • SEC/DOJ scrutiny
  • 95% wipeout
  • Delisting notice (not a red flag)
  • Bankruptcy
  • 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
5
Newest began Apr 2023
Largest fall in its shares
98%
Jun 2007 to Mar 2023
Law firms
9
Linked to 5 or more companies
Lawyers
10
Linked to 5 or more companies

What happened

  1. Bankruptcy or receivership (Item 1.03)Form 8-K (opens in a new tab)
  2. Bankruptcy or receivership (Item 1.03)Form 8-K (opens in a new tab)
  3. Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
  4. Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
  5. Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
  6. Bankruptcy or receivership (Item 1.03)Form 8-K (opens in a new tab)
  7. Debt accelerated (Item 2.04)Form 8-K (opens in a new tab)
  8. Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
  9. Shares down 95% from their high
  10. Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
  11. Debt accelerated (Item 2.04)Form 8-K (opens in a new tab)
  12. Debt accelerated (Item 2.04)Form 8-K (opens in a new tab)
  13. A filing mentions cooperating with the Justice DepartmentForm 10-Q (opens in a new tab)
  14. Said its accounts could not be relied on (Item 4.02)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.

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.