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Midas Edge

U.S. Dry Cleaning Services Corp UDRY (last ticker on record)

CIK 920317Its SEC filings (opens in a new tab)

  • 95% wipeout
  • SEC/DOJ scrutiny
  • Restructuring
  • Restatement
  • 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 Mar 2010
Largest fall in its shares
99%
Mar 2000 to May 2005
Law firms
11
Linked to 5 or more companies
Lawyers
13
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. Said its accounts could not be relied on (Item 4.02)Form 8-K (opens in a new tab)
  4. Bankruptcy or receivership (Item 1.03)Form 8-K (opens in a new tab)
  5. Bankruptcy or receivership (Item 1.03)Form 8-K (opens in a new tab)
  6. Bankruptcy or receivership (Item 1.03)Form 8-K (opens in a new tab)
  7. Bankruptcy or receivership (Item 1.03)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. Debt accelerated (Item 2.04)Form 8-K/A (opens in a new tab)
  10. An SEC release names it, an officer or its stockSEC release (opens in a new tab)
  11. SEC administrative proceedingSEC order (opens in a new tab)
  12. SEC enforcement releaseSEC release (opens in a new tab)
  13. An SEC release names it, an officer or its stockSEC release (opens in a new tab)
  14. Shares down 95% from their high

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.