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Midas Edge

Electric Last Mile Solutions, Inc. ELMS (last ticker on record)

CIK 1784168Its SEC filings (opens in a new tab)

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

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 Jun 2022
Largest fall in its shares
98%
Jun 2021 to Jul 2022
Law firms
3
Linked to 5 or more companies
Lawyers
6
Linked to 5 or more companies

What happened

  1. Bankruptcy or receivership (Item 1.03)Form 8-K (opens in a new tab)
  2. Shares down 95% from their high
  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. Exit or disposal costs (Item 2.05)Form 8-K/A (opens in a new tab)
  6. Exit or disposal costs (Item 2.05)Form 8-K (opens in a new tab)
  7. Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
  8. Said its accounts could not be relied on (Item 4.02)Form 8-K (opens in a new tab)
  9. 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.