Cleary Gottlieb Steen & Hamilton

Linked to 741 companies since Oct 1994. A filing names it for 60% of those. The rest come from a text search, which also finds a firm on the other side of a deal.

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.

65 of these companies later showed signs of SEC or DOJ scrutiny and had another red flag. Comparable companies would show 58.2, so that is 1.12× what you would expect.

SEC or DOJ scrutiny and another red flag: 1.12×; 65 companies, 58.2 expected, q 0.961
SEC or DOJ scrutiny: 1.30×; 135 companies, 103.7 expected, q 0.157
Stopped filing, and the SEC acted: 0.12×; 3 companies, 25.6 expected, q 1.000
Shares fell 95% from their high: 0.72×; 61 companies, 84.9 expected, q 1.000

Each bar’s tick marks 1×, no more than comparable companies. A colored bar has q below 0.05, the usual bar.

Every outcome

What came later among these companies, against comparable companies
What came later	Companies	Expected	× expected	q
SEC or DOJ scrutiny and another red flag	65	58.2	1.12	0.961
SEC or DOJ scrutiny	135	103.7	1.30	0.157
Stopped filing, and the SEC acted	3	25.6	0.12	1.000
Shares fell 95% from their high	61	84.9	0.72	1.000
Two or more different red flags	101	112.8	0.90	1.000
Said its accounts could not be relied on	61	92.6	0.66	1.000
Bankruptcy or receivership	33	29.9	1.10	0.933
Restructuring or accelerated debt	146	147.7	0.99	1.000
Delisting notice	190	210.3	0.90	1.000
SEC accounting enforcement release	31	25.1	1.23	1.000
An SEC release or DOJ statement names it, an officer or its stock	69	55.8	1.24	1.000

What each of these means

SEC or DOJ scrutiny and another red flag: The SEC or DOJ took an interest, and the company also fell 95%, restated its accounts, restructured or went bankrupt.
SEC or DOJ scrutiny: An enforcement release; a Wells notice, a formal order, a subpoena or a statement that it is cooperating with the SEC or Justice Department in the company's own filings; or far more SEC letters than a company normally draws. Whether or not the company was ever charged: most cases settle, or end in nothing public.
Stopped filing, and the SEC acted: The SEC revoked the company's registration, or suspended trading, for nothing but not filing.
Shares fell 95% from their high: A close at least 95% below the earlier high, with no close above a fifth of that high in the next ten, so that one bad print does not count. It can recover later.
Two or more different red flags: Any two of: SEC or DOJ scrutiny, a 95% fall, a restatement, a restructuring, a bankruptcy.
Said its accounts could not be relied on: The company's own Item 4.02 notice on Form 8-K.
Bankruptcy or receivership: The company's Item 1.03 notice on Form 8-K. This follows how much debt clients carry, so restructuring practices read high here.
Restructuring or accelerated debt: Item 2.05 or Item 2.04 on Form 8-K.
Delisting notice: Item 3.01 on Form 8-K. Mergers and transfers between exchanges report under it too, so it is shown but counts as no red flag.
SEC accounting enforcement release: An Accounting and Auditing Enforcement Release that names the company.
An SEC release or DOJ statement names it, an officer or its stock: The text of a release or a DOJ statement names the company, one of its officers, or its stock as what a scheme sold or moved. It does not say the company did wrong: a company can be the victim. This is about the company, never its lawyers.

Lawyers at this firm

Rank by

Lawyers ranked by SEC or DOJ scrutiny and another red flag. Click a column to sort.
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1	Raymond B. CheckCleary Gottlieb Steen & Hamilton	17	65%	6	1.4	4.34	0.590	3.10	0.00	0.67
2	Alan L. BellerCleary Gottlieb Steen & Hamilton	14	79%	4	1.3	3.07	0.850	2.73	0.00	1.51
3	Stephen H. ShalenCleary Gottlieb Steen & Hamilton	11	100%	4	1.7	2.34	0.999	1.61	0.00	1.46
4	Arthur H. KohnCleary Gottlieb Steen & Hamilton	55	82%	9	6.7	1.35	1.000	2.10	0.00	0.87
5	David LopezCleary Gottlieb Steen & Hamilton	55	67%	7	4.5	1.55	1.000	1.99	0.00	1.47
6	Paul J. ShimCleary Gottlieb Steen & Hamilton	45	44%	2	3.9	0.52	1.000	1.45	0.00	0.70
7	Craig B. BrodCleary Gottlieb Steen & Hamilton	41	66%	4	2.8	1.42	1.000	2.03	0.00	0.53
8	Nicolas GrabarCleary Gottlieb Steen & Hamilton	37	62%	2	2.3	0.86	1.000	1.56	0.00	0.48
9	Jeffrey D. KarpfCleary Gottlieb Steen & Hamilton	35	74%	4	2.6	1.56	1.000	2.59	0.00	1.35
10	Francesca L. OdellCleary Gottlieb Steen & Hamilton	33	67%	2	1.4	1.47	1.000	2.21	0.00	0.91
11	Pamela L. MarcoglieseCleary Gottlieb Steen & Hamilton	32	84%	4	1.6	2.45	1.000	2.60	0.00	0.99
12	Victor I. LewkowCleary Gottlieb Steen & Hamilton	31	68%	5	4.0	1.25	1.000	1.95	0.00	0.26
13	Ethan A. KlingsbergCleary Gottlieb Steen & Hamilton	30	57%	4	2.4	1.64	1.000	2.14	0.84	1.27
14	Helena K. GrannisCleary Gottlieb Steen & Hamilton	29	76%	2	1.0	2.07	1.000	3.15	0.00	1.13
15	Leslie N. SilvermanCleary Gottlieb Steen & Hamilton	29	62%	6	3.4	1.78	1.000	1.90	0.00	1.42
16	Neil Q. WhoriskeyCleary Gottlieb Steen & Hamilton	25	56%	1	1.4	0.72	1.000	1.91	0.00	0.37
17	Christopher E. AustinCleary Gottlieb Steen & Hamilton	24	46%	3	2.1	1.40	1.000	2.01	0.00	0.72
18	Robert J. RaymondCleary Gottlieb Steen & Hamilton	24	29%	1	2.5	0.40	1.000	0.87	0.00	0.00
19	Sandra L. FlowCleary Gottlieb Steen & Hamilton	24	75%	5	2.5	2.04	1.000	2.66	0.00	1.58
20	Janet L. FisherCleary Gottlieb Steen & Hamilton	23	52%	3	2.8	1.07	1.000	1.02	0.00	0.00
21	Michael J. AlbanoCleary Gottlieb Steen & Hamilton	22	59%	1	0.9	1.06	1.000	1.61	0.00	0.48
22	Matthew P. SalernoCleary Gottlieb Steen & Hamilton	21	52%	3	1.4	2.22	1.000	1.72	0.00	0.83
23	David I. GottliebCleary Gottlieb Steen & Hamilton	20	85%	2	1.5	1.34	1.000	2.50	0.00	0.92
24	Robert P. DavisCleary Gottlieb Steen & Hamilton	16	44%	2	1.0	1.99	1.000	3.68	0.00	0.49
25	Jeffrey SmallCleary Gottlieb Steen & Hamilton	15	100%	3	1.9	1.56	1.000	2.82	0.00	0.49
26	Mary E. AlcockCleary Gottlieb Steen & Hamilton	15	47%	2	1.1	1.85	1.000	3.52	0.00	1.00
27	William F. GorinCleary Gottlieb Steen & Hamilton	15	73%	2	1.6	1.23	1.000	1.09	0.00	0.67
28	A. Richard SuskoCleary Gottlieb Steen & Hamilton	14	50%	2	1.7	1.20	1.000	2.32	0.00	1.25
29	Michael J. VolkovitschCleary Gottlieb Steen & Hamilton	13	85%	2	0.9	2.17	1.000	2.35	0.00	2.05
30	Sebastian R. SperberCleary Gottlieb Steen & Hamilton	13	92%	1	1.1	0.91	1.000	1.36	0.00	0.78
31	William A. GrollCleary Gottlieb Steen & Hamilton	13	54%	1	1.2	0.86	1.000	0.52	0.00	0.60
32	DAVID C. DRUMMONDCleary Gottlieb Steen & Hamilton	11	82%	2	1.1	1.80	1.000	1.81	0.00	0.00
33	David LeinwandCleary Gottlieb Steen & Hamilton	11	18%	1	0.5	1.92	1.000	2.63	0.00	0.00
34	Allan G. SperlingCleary Gottlieb Steen & Hamilton	10	50%	3	1.4	2.17	1.000	1.84	0.00	1.03
35	KENNETH L. BACHMANCleary Gottlieb Steen & Hamilton	9	67%	3	1.3	2.28	1.000	2.43	3.55	2.56
36	Michael L. RyanCleary Gottlieb Steen & Hamilton	8	38%	1	0.7	1.35	1.000	1.70	0.00	0.00
37	Francesca LavinCleary Gottlieb Steen & Hamilton	7	86%	1	0.4	2.35	1.000	1.36	0.00	2.15
38	Barry M. FoxCleary Gottlieb Steen & Hamilton	5	40%	3	0.6	5.14	1.000	3.31	0.00	0.00
39	Duane McLaughlinCleary Gottlieb Steen & Hamilton	30	67%	0	2.2	0.00	—	0.93	0.00	0.35
40	Adam FleisherCleary Gottlieb Steen & Hamilton	24	58%	0	1.1	0.00	—	1.47	0.00	0.71
41	Adam J. BrennemanCleary Gottlieb Steen & Hamilton	23	78%	0	0.9	0.00	—	1.65	0.00	1.03
42	Lillian TsuCleary Gottlieb Steen & Hamilton	23	91%	0	0.7	0.00	—	0.80	0.00	0.99
43	Jorge U. JuantorenaCleary Gottlieb Steen & Hamilton	21	57%	0	1.6	0.00	—	1.41	0.00	0.71
44	James E. LangstonCleary Gottlieb Steen & Hamilton	20	50%	0	1.1	0.00	—	2.44	0.00	0.99
45	Sung K. KangCleary Gottlieb Steen & Hamilton	19	58%	0	1.6	0.00	—	1.19	0.00	0.53
46	Juan G. GiraldezCleary Gottlieb Steen & Hamilton	15	47%	0	0.8	0.00	—	2.36	0.00	0.57
47	Kimberly R. SpoerriCleary Gottlieb Steen & Hamilton	15	40%	0	0.5	0.00	—	0.81	0.00	0.44
48	Ling HuangCleary Gottlieb Steen & Hamilton	15	80%	0	0.9	0.00	—	0.59	0.00	0.00
49	Andres de la CruzCleary Gottlieb Steen & Hamilton	14	43%	0	0.7	0.00	—	2.12	0.00	0.44
50	Neil R. MarkelCleary Gottlieb Steen & Hamilton	14	50%	0	0.5	0.00	—	2.60	0.00	0.51

Linked companies

WithSortOnly where a filing names them

Companies linked to this firm or lawyer, and what came later among them. Click a column to sort.
		How it is known
DELPHI CORPDPH (last ticker on record)	Mar 2003	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
BEAZER HOMES USA INCBZH (last ticker on record)	Feb 2002	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Restructuring Delisting notice (not a red flag)
Nikola CorpNKLA (last ticker on record)	Apr 2018	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
INTERPUBLIC GROUP OF COMPANIES, INC.IPG (last ticker on record)	Mar 2000	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
MONSTER WORLDWIDE, INC.MWW (last ticker on record)	May 2004	Text search only	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
ABERCROMBIE & FITCH COANF (last ticker on record)	Aug 2005	Named in a filing	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
NORTEL NETWORKS CORPNT (last ticker on record)	Mar 2001	Named in a filing	SEC/DOJ scrutiny Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
NORTEL NETWORKS LTD	Dec 2000	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
PRUDENTIAL FINANCIAL INCPRU (last ticker on record)	Apr 2001	Named in a filing	SEC/DOJ scrutiny Restatement Restructuring
Santander Consumer USA Holdings Inc.SC (last ticker on record)	Jul 2013	Named in a filing	SEC/DOJ scrutiny Restatement Delisting notice (not a red flag)
SPRINT LLCS (last ticker on record)	May 2001	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Restructuring Delisting notice (not a red flag)
SUPERIOR BANCORPSUPR (last ticker on record)	Sep 2001	Text search only	95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag) Went dark (not a red flag)
UNITED AIRLINES, INC.CAL (last ticker on record)	Apr 1996	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
Vaxart, Inc.VXRT (last ticker on record)	May 2005	Named in a filing	SEC/DOJ scrutiny 95% wipeout Restatement Restructuring Delisting notice (not a red flag)
ATI Physical Therapy, Inc.ATIP (last ticker on record)	Jul 2020	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Delisting notice (not a red flag)
BANK OF AMERICA CORPBAC (last ticker on record)	Dec 2003	Named in SEC correspondence	SEC/DOJ scrutiny Restatement
BIOMET INCBMET (last ticker on record)	Jan 2007	Named in SEC correspondence	SEC/DOJ scrutiny Restatement
CONSTAR INTERNATIONAL INCCNRN (last ticker on record)	May 2002	Named in a filing	95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
IMAX CORPIMAX (last ticker on record)	Feb 2004	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
Legacy EJY, Inc.ENJY (last ticker on record)	Nov 2020	Text search only	95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
Spirit Aviation Holdings, Inc.FLYY (last ticker on record)	Sep 2010	Named in SEC correspondence	95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
TD AMERITRADE HOLDING CORPAMTD (last ticker on record)	Jun 2002	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
TECH DATA CORPTECD (last ticker on record)	Dec 2006	Named in a filing	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
XL GROUP LTDXL (last ticker on record)	Jun 2006	Named in a filing	SEC/DOJ scrutiny 95% wipeout Restatement Delisting notice (not a red flag)
AMERICAN TOWER CORPAMT (last ticker on record)	Oct 2003	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Delisting notice (not a red flag)
Garrett Motion Inc.GTX (last ticker on record)	Jun 2018	Text search only	Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
GENERAL ELECTRIC CAPITAL CORP	Oct 2002	Text search only	SEC/DOJ scrutiny Restatement Restructuring
J CREW GROUP INCJCG (last ticker on record)	Dec 1997	Named in SEC correspondence	Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
Northrop Grumman Innovation Systems, Inc.OA (last ticker on record)	Oct 2014	Text search only	SEC/DOJ scrutiny Restatement Delisting notice (not a red flag)
Origin Materials, Inc.ORGN (last ticker on record)	Feb 2020	Named in SEC correspondence	95% wipeout Restatement Restructuring Delisting notice (not a red flag)
Shire plcSHPGY (last ticker on record)	Nov 2001	Text search only	SEC/DOJ scrutiny Restatement Delisting notice (not a red flag)
SOUTHWESTERN ENERGY COSWN (last ticker on record)	Nov 1995	Named in a filing	95% wipeout Restatement Restructuring Delisting notice (not a red flag)
DENNY'S CorpDENN (last ticker on record)	Nov 2001	Text search only	Restatement Restructuring Delisting notice (not a red flag)
ENTEGRIS INCENTG (last ticker on record)	Jun 2005	Text search only	95% wipeout Restatement Restructuring
US BANCORPUSB (last ticker on record)	Jun 1997	Named in a filing	SEC/DOJ scrutiny Restatement
HARTFORD INSURANCE GROUP, INC.HIG (last ticker on record)	Mar 2010	Named in a filing	Restatement Restructuring
OppFi Inc.OPFI (last ticker on record)	Jul 2020	Text search only	Restatement Restructuring
RESIDENTIAL CAPITAL, LLC	Sep 2005	Text search only	Restatement Restructuring
Angel Pond Holdings CorpPOND (last ticker on record)	Feb 2021	Named in SEC correspondence	Restatement Delisting notice (not a red flag)
COMPASS MINERALS INTERNATIONAL INCCMP (last ticker on record)	Sep 2023	Named in SEC correspondence	Restatement Delisting notice (not a red flag)
dMY Squared Technology Group, Inc.DMYY (last ticker on record)	May 2022	Named in SEC correspondence	Restatement Delisting notice (not a red flag)
dMY Technology Group, Inc. VIDMYS (last ticker on record)	Jun 2021	Named in SEC correspondence	Restatement Delisting notice (not a red flag)
Fortress Value Acquisition Corp. IIIFVT (last ticker on record)	Sep 2020	Text search only	Restatement Delisting notice (not a red flag)
Fortress Value Acquisition Corp. IVFVIV (last ticker on record)	Oct 2020	Text search only	Restatement Delisting notice (not a red flag)
FOSTER WHEELER AGFWLT (last ticker on record)	Dec 2003	Text search only	Restatement Delisting notice (not a red flag)
GENTIVA HEALTH SERVICES INCGTIV (last ticker on record)	Jun 2014	Named in SEC correspondence	Restatement Delisting notice (not a red flag)
HERC HOLDINGS INCHRI (last ticker on record)	May 2010	Named in SEC correspondence	Restatement Delisting notice (not a red flag)
IonQ, Inc.IONQ (last ticker on record)	Mar 2021	Named in SEC correspondence	Restatement Delisting notice (not a red flag)
MAGELLAN HEALTH INCMGLN (last ticker on record)	Jun 2001	Named in a filing	Restatement Delisting notice (not a red flag)
MDH Acquisition Corp.MDH (last ticker on record)	Jan 2021	Text search only	Restatement Delisting notice (not a red flag)

At a glance

Every outcome

Lawyers at this firm

Linked companies

At a glance

Every outcome

Lawyers at this firm

Linked companies