TON Strategy Co TONX (last ticker on record)

CIK 1566610Its SEC filings (opens in a new tab)

95% wipeout
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: 1; Newest began Nov 2022
Largest fall in its shares: 98%; Apr 2023 to Oct 2024
Law firms: 14; Linked to 5 or more companies
Lawyers: 10; Linked to 5 or more companies

What happened

Jun 23, 2026Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
Oct 29, 2025Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
Oct 10, 2025Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
Oct 7, 2024Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
Sep 6, 2024Delisting notice (Item 3.01)Form 8-K/A (opens in a new tab)
Sep 4, 2024Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
Aug 12, 2024Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
Feb 5, 2024Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
Jan 10, 2024Shares down 95% from their high
Nov 8, 2023Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
Aug 24, 2023Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
Nov 23, 2022Shares down 95% from their high
Jul 30, 2020Delisting 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
Brownstein Hyatt Farber Schreck, LLP	Aug 2025	Named in a filing	223	0.67	0.75	0.97
Hogan Lovells US LLP	Aug 2025	Named in a filing	487	0.96	0.26	0.85
Sichenzia Ross Ference LLP	Jan 2023	Named in a filing	1,005	1.27	1.62	1.26
Stradling Yocca Carlson & Rauth	Mar 2021	Named in SEC correspondence	165	1.18	1.37	1.37
Troutman Pepper Hamilton Sanders LLP	Jul 2020	Named in SEC correspondence	154	1.18	0.00	1.15
Troutman Sanders LLP	Jun 2020	Named in a filing	335	1.15	0.61	1.16
Baker & Hostetler	Aug 2018	Named in SEC correspondence	231	1.11	1.12	1.35
TroyGould PC	Oct 2017	Named in a filing	125	0.73	1.37	1.25
Clark Wilson LLP	Dec 2014	Named in SEC correspondence	204	0.72	1.43	1.11
Synergy Law Group, LLC	Apr 2013	Named in SEC correspondence	19	1.65	1.30	1.67
Kelley Drye & Warren	Aug 2020	Text search only	152	1.24	0.53	1.21
Pepper Hamilton	Jul 2020	Text search only	340	1.03	0.35	1.13
Robinson Brog	Aug 2018	Text search only	27	1.86	0.72	2.30
Synergen Law Group	Apr 2013	Text search only	24	0.63	0.74	1.42

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
David ThomasWilson Sonsini Goodrich & Rosati	Jul 2026	Named in a filing	7	0.70	0.00	0.73
Mark BassWilson Sonsini Goodrich & Rosati	Jul 2026	Named in a filing	9	0.00	0.00	1.41
J. Nicholas HooverHogan Lovells US LLP	Aug 2025	Named in a filing	11	0.00	0.00	0.85
Ryan C. WilkinsStradling Yocca Carlson & Rauth	Jan 2022	Named in SEC correspondence	25	1.54	0.00	1.98
Larry A. CeruttiRutan & Tucker	Jun 2020	Named in SEC correspondence	21	0.43	0.77	1.78
Alissa K. LugoBaker & Hostetler	Dec 2019	Named in a filing	6	0.00	3.87	1.46
David E. DanovitchSullivan & Worcester LLP	Dec 2018	Named in a filing	85	0.88	1.89	1.25
David L. FicksmanTroyGould PC	Oct 2017	Named in a filing	58	0.91	1.80	0.96
Virgil Z. HlusClark Wilson LLP	Dec 2014	Named in SEC correspondence	67	0.53	1.95	1.13
Karen A. BatcherSynergen Law Group	Apr 2013	Named in SEC correspondence	56	1.03	0.64	1.03