Davis Polk

Linked to 1,694 companies since Apr 1994. A filing names it for 61% 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.

152 of these companies later showed signs of SEC or DOJ scrutiny and had another red flag. Comparable companies would show 120.2, so that is 1.26× what you would expect.

SEC or DOJ scrutiny and another red flag: 1.26×; 152 companies, 120.2 expected, q 0.226
SEC or DOJ scrutiny: 1.26×; 261 companies, 207.9 expected, q 0.075
Stopped filing, and the SEC acted: 0.06×; 3 companies, 46.4 expected, q 1.000
Shares fell 95% from their high: 1.02×; 229 companies, 225.5 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	152	120.2	1.26	0.226
SEC or DOJ scrutiny	261	207.9	1.26	0.075
Stopped filing, and the SEC acted	3	46.4	0.06	1.000
Shares fell 95% from their high	229	225.5	1.02	1.000
Two or more different red flags	319	262.1	1.22	0.047
Said its accounts could not be relied on	227	231.3	0.98	1.000
Bankruptcy or receivership	77	64.1	1.20	0.519
Restructuring or accelerated debt	447	332.1	1.35	<0.001
Delisting notice	651	532.7	1.22	0.002
SEC accounting enforcement release	56	48.0	1.17	1.000
An SEC release or DOJ statement names it, an officer or its stock	131	109.2	1.20	0.929

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.
#
1	Sarah K. SolumDavis Polk	44	93%	7	3.3	2.11	0.850	1.07	0.00	1.57
2	Michael KaplanDavis Polk	112	80%	11	6.2	1.77	0.866	1.20	0.00	0.89
3	Adam KaminskyDavis Polk	23	100%	3	0.8	3.92	0.924	1.55	0.00	1.50
4	Richard D. Truesdell Jr.Davis Polk	149	93%	12	11.6	1.04	1.000	0.91	0.00	1.06
5	Alan F. DenenbergDavis Polk	114	100%	6	5.5	1.09	1.000	1.19	0.00	1.46
6	Derek J. DostalDavis Polk	114	77%	4	3.4	1.19	1.000	1.03	0.00	1.22
7	Deanna L. KirkpatrickDavis Polk	112	83%	9	6.0	1.50	1.000	1.74	0.00	0.76
8	James C. LinDavis Polk	76	86%	2	3.5	0.58	1.000	0.91	0.00	0.97
9	Li HeDavis Polk	53	96%	1	1.9	0.51	1.000	0.71	0.00	0.61
10	Joseph A. HallDavis Polk	49	86%	3	3.8	0.78	1.000	1.14	0.00	0.82
11	Manuel GarciadiazDavis Polk	40	85%	1	2.3	0.44	1.000	0.93	0.00	0.82
12	Byron B. RooneyDavis Polk	37	81%	3	1.5	1.99	1.000	1.11	0.00	1.32
13	George R. Bason Jr.Davis Polk	37	76%	7	4.4	1.58	1.000	1.28	0.00	0.58
14	John B. MeadeDavis Polk	33	91%	1	1.8	0.55	1.000	1.12	0.00	0.83
15	Miranda SoDavis Polk	33	15%	1	1.4	0.72	1.000	0.36	0.00	0.68
16	Shane TintleDavis Polk	29	90%	1	0.9	1.10	1.000	1.10	0.00	1.09
17	William H. AaronsonDavis Polk	29	76%	3	1.9	1.58	1.000	1.45	0.00	0.53
18	Lee HochbaumDavis Polk	28	86%	2	1.2	1.67	1.000	0.93	0.00	1.99
19	Sophia HudsonDavis Polk	28	89%	1	1.4	0.74	1.000	0.71	0.00	0.65
20	Nicholas A. KronfeldDavis Polk	27	89%	3	3.6	0.83	1.000	1.19	0.00	0.34
21	Marc O. WilliamsDavis Polk	26	73%	2	1.4	1.39	1.000	1.70	0.00	0.38
22	Stephen SalmonDavis Polk	26	77%	2	1.4	1.39	1.000	1.26	0.00	1.47
23	Michael DavisDavis Polk	25	52%	1	1.0	1.04	1.000	0.57	0.00	0.65
24	Emily RobertsDavis Polk	24	100%	2	0.7	2.83	1.000	1.69	0.00	1.50
25	Jean M. McLoughlinDavis Polk	24	79%	4	2.6	1.53	1.000	1.27	0.00	0.41
26	James P. DoughertyDavis Polk	22	82%	1	1.1	0.87	1.000	0.38	0.00	1.40
27	William L. TaylorDavis Polk	22	73%	1	1.6	0.62	1.000	0.97	1.00	0.63
28	Sarah BesharDavis Polk	20	85%	5	2.6	1.90	1.000	1.68	0.00	0.51
29	Louis L. GoldbergDavis Polk	19	42%	2	1.1	1.89	1.000	1.33	0.00	0.77
30	Richard A. DruckerDavis Polk	19	90%	2	2.1	0.97	1.000	1.16	0.89	0.53
31	John D. AmorosiDavis Polk	17	53%	2	1.2	1.72	1.000	2.05	0.00	0.00
32	Evan RosenDavis Polk	16	75%	1	0.4	2.68	1.000	1.03	0.00	1.17
33	H. Oliver SmithDavis Polk	16	75%	1	0.5	1.95	1.000	1.49	0.00	1.19
34	Diane G. KerrDavis Polk	14	93%	4	2.7	1.47	1.000	0.97	0.00	3.55
35	Hillary A. ColemanDavis Polk	14	93%	1	0.3	3.98	1.000	2.49	0.00	1.27
36	Michael OcchioliniDavis Polk	14	71%	3	1.2	2.53	1.000	1.71	0.00	2.42
37	Phillip R. MillsDavis Polk	14	50%	1	1.1	0.88	1.000	1.00	0.00	0.54
38	Ran LiDavis Polk	13	69%	1	0.3	3.22	1.000	2.74	0.00	0.64
39	Barbara NimsDavis Polk	12	100%	3	1.5	1.96	1.000	1.64	0.00	0.90
40	John G. CrowleyDavis Polk	12	100%	1	0.9	1.05	1.000	1.58	0.00	1.80
41	William M. KellyDavis Polk	12	83%	3	1.7	1.79	1.000	1.18	0.00	0.00
42	Andres V. GilDavis Polk	11	73%	1	1.2	0.82	1.000	0.45	0.00	1.21
43	David L. CaplanDavis Polk	11	55%	3	1.0	2.92	1.000	2.30	0.00	1.54
44	Richard J. SandlerDavis Polk	11	82%	2	1.6	1.29	1.000	1.94	0.00	0.00
45	Daniel G. Kelly Jr.Davis Polk	10	90%	1	1.0	1.03	1.000	1.26	0.00	1.05
46	Jeffrey P. CrandallDavis Polk	10	100%	1	0.6	1.66	1.000	0.86	0.00	1.28
47	Darren M. SchweigerDavis Polk	8	63%	2	0.3	7.45	1.000	5.10	0.00	1.75
48	John A. BickDavis Polk	8	63%	2	0.7	2.95	1.000	1.73	0.00	0.00
49	John BanesDavis Polk	8	63%	1	0.6	1.75	1.000	1.49	0.00	1.51
50	Edmond T. FitzGeraldDavis Polk	7	100%	1	0.8	1.19	1.000	1.76	0.00	0.00

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
Refco Inc.RFX (last ticker on record)	Oct 2004	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
COLLINS & AIKMAN CORPCKC (last ticker on record)	Jan 2005	Text search only	SEC/DOJ scrutiny Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
EXP OldCo Winddown, Inc.EXPR (last ticker on record)	Feb 2010	Text search only	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
HERTZ CORP	Jan 2001	Text search only	SEC/DOJ scrutiny Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
SANDRIDGE ENERGY INCSD (last ticker on record)	Jan 2006	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
UTSTARCOM HOLDINGS CORP.UTSI (last ticker on record)	Jun 2001	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Restructuring Delisting notice (not a red flag)
VITESSE SEMICONDUCTOR CORPVTSS (last ticker on record)	Apr 2000	Named in a filing	SEC/DOJ scrutiny 95% wipeout Restatement Restructuring Delisting notice (not a red flag)
Avaya Holdings Corp.AVYA (last ticker on record)	Dec 2017	Text search only	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
AVON PRODUCTS INCAVP (last ticker on record)	Jan 2000	Named in a filing	SEC/DOJ scrutiny 95% wipeout Restructuring Delisting notice (not a red flag)
DELTA AIR LINES, INC.DAL (last ticker on record)	Jan 2000	Named in a filing	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
Hyzon Motors Inc.HYZN (last ticker on record)	Sep 2020	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Restatement Restructuring Delisting notice (not a red flag)
Kraft Heinz CoKHC (last ticker on record)	May 2015	Text search only	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
MAGNACHIP SEMICONDUCTOR CorpMX (last ticker on record)	Jun 2005	Text search only	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
Molycorp, Inc.MCP (last ticker on record)	Apr 2010	Named in a filing	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
MONSTER WORLDWIDE, INC.MWW (last ticker on record)	Oct 2003	Text search only	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
Motors Liquidation CoMTLQQ (last ticker on record)	May 2001	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
PENSON WORLDWIDE INCPNSN (last ticker on record)	Aug 2005	Text search only	SEC/DOJ scrutiny 95% wipeout Restructuring Delisting notice (not a red flag)
WM TECHNOLOGY, INC.MAPS (last ticker on record)	Jun 2019	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Restatement Restructuring Delisting notice (not a red flag)
ABERCROMBIE & FITCH COANF (last ticker on record)	Aug 1996	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
ANDREW CORPANDW (last ticker on record)	Oct 2003	Text search only	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
ASSURANT, INC.AIZ (last ticker on record)	Dec 2003	Named in a filing	SEC/DOJ scrutiny Restatement Restructuring
Beam Suntory Inc.BEAM (last ticker on record)	Mar 2004	Text search only	SEC/DOJ scrutiny Restructuring Delisting notice (not a red flag)
BEARINGPOINT INCBGPTQ (last ticker on record)	Jan 2001	Text search only	SEC/DOJ scrutiny Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
Benefytt Technologies, Inc.BFYT (last ticker on record)	Nov 2012	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
BLUE COAT SYSTEMS INCBCSI (last ticker on record)	Mar 2008	Named in SEC correspondence	SEC/DOJ scrutiny Restructuring Delisting notice (not a red flag)
BROCADE COMMUNICATIONS SYSTEMS INCBRCD (last ticker on record)	Oct 2006	Text search only	SEC/DOJ scrutiny Restructuring Delisting notice (not a red flag)
CENTURY ALUMINUM COCENX (last ticker on record)	Dec 2004	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Restructuring
CITIGROUP INCC (last ticker on record)	Jun 2001	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Restructuring
Eargo, Inc.EAR (last ticker on record)	Nov 2019	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Restructuring Delisting notice (not a red flag)
EPL OIL & GAS, INC.EPL (last ticker on record)	Jul 2006	Text search only	SEC/DOJ scrutiny Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
FLEETWOOD ENTERPRISES INCFLTW (last ticker on record)	Jun 2001	Text search only	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
Global Geophysical Services IncGEGSQ (last ticker on record)	Dec 2009	Text search only	SEC/DOJ scrutiny Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
GLOBAL INDUSTRIAL CoGIC (last ticker on record)	Feb 1997	Named in a filing	SEC/DOJ scrutiny Restatement Restructuring
HEALTH MANAGEMENT ASSOCIATES, INCHMA (last ticker on record)	Oct 2003	Text search only	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
INGRAM MICRO INCIM (last ticker on record)	Oct 1996	Named in SEC correspondence	SEC/DOJ scrutiny Restructuring Delisting notice (not a red flag)
Internap CorpINAP (last ticker on record)	Feb 2004	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring
ION GEOPHYSICAL CORPIO (last ticker on record)	Jan 2004	Text search only	95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag) Went dark (not a red flag)
KLA CORPKLAC (last ticker on record)	Mar 2006	Named in a filing	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
LEGG MASON, INC.LM (last ticker on record)	Jul 2009	Text search only	SEC/DOJ scrutiny Restructuring Delisting notice (not a red flag)
Lucid Group, Inc.LCID (last ticker on record)	Mar 2021	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Restatement Restructuring Delisting notice (not a red flag)
MERCURY INTERACTIVE CORPMERQ (last ticker on record)	Jun 2003	Named in a filing	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
MORGAN STANLEYMS (last ticker on record)	Jan 2001	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring
NEWELL BRANDS INC.NWL (last ticker on record)	Jan 2016	Text search only	SEC/DOJ scrutiny Restructuring Delisting notice (not a red flag)
Old QVC Group, Inc.QVCGP (last ticker on record)	Aug 2017	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
PNC FINANCIAL SERVICES GROUP, INC.PNC (last ticker on record)	Dec 2006	Text search only	SEC/DOJ scrutiny Restatement Restructuring
TALOS PETROLEUM LLCSGY (last ticker on record)	Dec 2005	Text search only	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
Tempest Therapeutics, Inc.TPST (last ticker on record)	Apr 2019	Text search only	SEC/DOJ scrutiny 95% wipeout Restructuring Delisting notice (not a red flag)
TYSON FOODS, INC.TSN (last ticker on record)	Jan 2002	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
Zymergen Inc.ZY (last ticker on record)	Jan 2021	Text search only	SEC/DOJ scrutiny 95% wipeout Restructuring Delisting notice (not a red flag)
AES CORPAES (last ticker on record)	Nov 1996	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring 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