Innovative Payment Solutions, Inc. IPSI (last ticker on record)
CIK 1591913Its SEC filings (opens in a new tab)
- 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
- 2
- Newest began Apr 2022
- Largest fall in its shares
- 99%
- Feb 2021 to Jan 2025
- Law firms
- 4
- Linked to 5 or more companies
- Lawyers
- 7
- Linked to 5 or more companies
What happened
- Shares down 95% from their high
- 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.
- Ellenoff Grossman & Schole LLPFirst linked Jan 2023 · Named in SEC correspondence · 963 linked companiesSEC/DOJ scrutiny 0.96× · Went dark 1.12× · 95% wipeout 1.21×
- Parsons Behle & LatimerFirst linked May 2017 · Named in a filing · 66 linked companiesSEC/DOJ scrutiny 1.40× · Went dark 1.37× · 95% wipeout 1.31×
- Gracin & Marlow, LLPFirst linked Aug 2016 · Named in SEC correspondence · 55 linked companiesSEC/DOJ scrutiny 0.97× · Went dark 2.34× · 95% wipeout 1.38×
- Synergy Law Group, LLCFirst linked Dec 2013 · Named in SEC correspondence · 19 linked companiesSEC/DOJ scrutiny 1.65× · Went dark 1.30× · 95% wipeout 1.67×
| Name | First linked | How it is known | Linked companies | SEC/DOJ scrutiny | Went dark | 95% wipeout |
|---|---|---|---|---|---|---|
| Ellenoff Grossman & Schole LLP | Jan 2023 | Named in SEC correspondence | 963 | 0.96 | 1.12 | 1.21 |
| Parsons Behle & Latimer | May 2017 | Named in a filing | 66 | 1.40 | 1.37 | 1.31 |
| Gracin & Marlow, LLP | Aug 2016 | Named in SEC correspondence | 55 | 0.97 | 2.34 | 1.38 |
| Synergy Law Group, LLC | Dec 2013 | Named in SEC correspondence | 19 | 1.65 | 1.30 | 1.67 |
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.
- Lawrence A. RosenbloomEllenoff Grossman & Schole LLPFirst linked Jan 2023 · Named in a filing · 51 linked companiesSEC/DOJ scrutiny 1.16× · Went dark 1.35× · 95% wipeout 1.31×
- Richard I. AnslowEllenoff Grossman & Schole LLPFirst linked Jan 2023 · Named in SEC correspondence · 153 linked companiesSEC/DOJ scrutiny 1.23× · Went dark 1.12× · 95% wipeout 0.95×
- Patrick J. EganGracin & Marlow, LLPFirst linked Jun 2018 · Named in a filing · 43 linked companiesSEC/DOJ scrutiny 0.40× · Went dark 1.84× · 95% wipeout 1.89×
- Hank GracinGracin & Marlow, LLPFirst linked Aug 2016 · Named in SEC correspondence · 77 linked companiesSEC/DOJ scrutiny 0.66× · Went dark 2.28× · 95% wipeout 1.53×
- Leslie MarlowBlank RomeFirst linked Aug 2016 · Named in SEC correspondence · 71 linked companiesSEC/DOJ scrutiny 0.58× · Went dark 2.60× · 95% wipeout 1.43×
- Carol S. McMahanSynergy Law Group, LLCFirst linked Dec 2013 · Named in SEC correspondence · 10 linked companiesSEC/DOJ scrutiny 1.73× · Went dark 1.69× · 95% wipeout 1.31×
- Kristen A. BaracySynergy Law Group, LLCFirst linked Dec 2013 · Named in SEC correspondence · 14 linked companiesSEC/DOJ scrutiny 1.21× · Went dark 1.16× · 95% wipeout 1.44×
| Name | First linked | How it is known | Linked companies | SEC/DOJ scrutiny | Went dark | 95% wipeout |
|---|---|---|---|---|---|---|
| Lawrence A. RosenbloomEllenoff Grossman & Schole LLP | Jan 2023 | Named in a filing | 51 | 1.16 | 1.35 | 1.31 |
| Richard I. AnslowEllenoff Grossman & Schole LLP | Jan 2023 | Named in SEC correspondence | 153 | 1.23 | 1.12 | 0.95 |
| Patrick J. EganGracin & Marlow, LLP | Jun 2018 | Named in a filing | 43 | 0.40 | 1.84 | 1.89 |
| Hank GracinGracin & Marlow, LLP | Aug 2016 | Named in SEC correspondence | 77 | 0.66 | 2.28 | 1.53 |
| Leslie MarlowBlank Rome | Aug 2016 | Named in SEC correspondence | 71 | 0.58 | 2.60 | 1.43 |
| Carol S. McMahanSynergy Law Group, LLC | Dec 2013 | Named in SEC correspondence | 10 | 1.73 | 1.69 | 1.31 |
| Kristen A. BaracySynergy Law Group, LLC | Dec 2013 | Named in SEC correspondence | 14 | 1.21 | 1.16 | 1.44 |