System1, Inc. SST (last ticker on record)

CIK 1805833Its SEC filings (opens in a new tab)

Restatement
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: 2; Newest began Sep 2023
Largest fall in its shares: 99%; Apr 2022 to Mar 2026
Law firms: 8; Linked to 5 or more companies
Lawyers: 10; Linked to 5 or more companies

What happened

Dec 12, 2025Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
Apr 7, 2025Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
Jan 10, 2025Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
Sep 7, 2023Shares down 95% from their high
Apr 6, 2023Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
Mar 17, 2023Said its accounts could not be relied on (Item 4.02)Form 8-K (opens in a new tab)
Jun 1, 2021Delisting 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
Latham & Watkins LLP	Sep 2021	Named in SEC correspondence	2,667	0.98	0.31	1.10
Davis Polk	Mar 2020	Named in SEC correspondence	1,694	1.26	0.06	1.02
Maples and Calder	Mar 2020	Named in SEC correspondence	1,144	0.95	0.26	0.92
Weil, Gotshal & Manges LLP	Mar 2020	Named in SEC correspondence	1,051	1.31	0.27	0.91
Clark Hill	Feb 2022	Text search only	51	1.57	0.00	0.70
Gibson, Dunn & Crutcher LLP	Dec 2021	Text search only	1,125	1.23	0.20	0.96
Willkie Farr	Sep 2021	Text search only	539	1.23	0.40	0.84
Greenberg Traurig	Mar 2020	Text search only	1,223	1.01	1.03	1.10

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
Brent T. EpsteinLatham & Watkins LLP	Dec 2023	Named in SEC correspondence	26	1.67	0.00	1.22
Michael J. AielloWeil, Gotshal & Manges LLP	Sep 2021	Named in SEC correspondence	107	1.23	0.00	0.75
Steven B. StokdykLatham & Watkins LLP	Sep 2021	Named in SEC correspondence	62	1.05	0.00	0.96
Alexander D. LynchWeil, Gotshal & Manges LLP	Mar 2020	Named in SEC correspondence	115	1.18	0.33	1.45
Deanna L. KirkpatrickDavis Polk	Mar 2020	Named in SEC correspondence	112	1.74	0.00	0.76
Derek J. DostalDavis Polk	Mar 2020	Named in SEC correspondence	114	1.03	0.00	1.22
Heather L. EmmelWeil, Gotshal & Manges LLP	Mar 2020	Named in SEC correspondence	37	0.94	0.00	0.67
Andrew ClarkLatham & Watkins LLP	Sep 2021	Text search only	7	6.44	0.00	0.73
Claire E. JamesWillkie Farr	Sep 2021	Text search only	5	0.00	0.00	0.94
W. Alex VoxmanLatham & Watkins LLP	Sep 2021	Text search only	10	2.89	2.69	1.17