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Midas Edge

AKORN INC AKRXQ (last ticker on record)

CIK 3116Its SEC filings (opens in a new tab)

  • Restatement
  • SEC/DOJ scrutiny
  • 95% wipeout
  • Restructuring
  • Delisting notice (not a red flag)
  • 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
5
Newest began May 2020
Largest fall in its shares
99%
Apr 2015 to Oct 2020
Law firms
6
Linked to 5 or more companies
Lawyers
5
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. Bankruptcy or receivership (Item 1.03)Form 8-K (opens in a new tab)
  5. Debt accelerated (Item 2.04)Form 8-K (opens in a new tab)
  6. Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
  7. Debt accelerated (Item 2.04)Form 8-K (opens in a new tab)
  8. Shares down 95% from their high
  9. SEC enforcement releaseSEC release (opens in a new tab)
  10. An SEC release names it, an officer or its stockSEC release (opens in a new tab)
  11. Said its accounts could not be relied on (Item 4.02)Form 8-K (opens in a new tab)
  12. Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
  13. Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
  14. A filing mentions cooperating with the SECForm 8-K (opens in a new tab)
  15. Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
  16. Said its accounts could not be relied on (Item 4.02)Form 8-K (opens in a new tab)
  17. Said its accounts could not be relied on (Item 4.02)Form 8-K (opens in a new tab)
  18. Delisting notice (Item 3.01)Form 8-K (opens in a new tab)
  19. Debt accelerated (Item 2.04)Form 8-K (opens in a new tab)
  20. An SEC release names it, an officer or its stockSEC release (opens in a new tab)
  21. Said its accounts could not be relied on (Item 4.02)Form 8-K (opens in a new tab)
  22. An SEC release names it, an officer or its stockSEC release (opens in a new tab)
  23. SEC administrative proceedingSEC order (opens in a new tab)
  24. SEC enforcement releaseSEC release (opens in a new tab)
  25. An SEC release names it, an officer or its stockSEC release (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.