DLA Piper

Linked to 1,185 companies since Jan 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.

89 of these companies later showed signs of SEC or DOJ scrutiny and had another red flag. Comparable companies would show 74.2, so that is 1.20× what you would expect.

SEC or DOJ scrutiny and another red flag: 1.20×; 89 companies, 74.2 expected, q 0.601
SEC or DOJ scrutiny: 1.00×; 123 companies, 122.8 expected, q 1.000
Stopped filing, and the SEC acted: 0.45×; 20 companies, 44.1 expected, q 1.000
Shares fell 95% from their high: 1.17×; 241 companies, 205.2 expected, q 0.525

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	89	74.2	1.20	0.601
SEC or DOJ scrutiny	123	122.8	1.00	1.000
Stopped filing, and the SEC acted	20	44.1	0.45	1.000
Shares fell 95% from their high	241	205.2	1.17	0.525
Two or more different red flags	243	195.7	1.24	0.041
Said its accounts could not be relied on	162	178.8	0.91	1.000
Bankruptcy or receivership	68	50.9	1.34	0.168
Restructuring or accelerated debt	309	217.8	1.42	<0.001
Delisting notice	466	401.7	1.16	0.030
SEC accounting enforcement release	29	26.3	1.10	1.000
An SEC release or DOJ statement names it, an officer or its stock	60	63.9	0.94	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	GRAY CARY WARE FREIDENRICHDLA Piper	24	13%	8	2.8	2.86	0.467	1.90	0.00	1.39
2	Jack I. KantrowitzDLA Piper	11	100%	4	0.8	5.25	0.590	3.69	0.00	1.01
3	DENNIS C. SULLIVANDLA Piper	17	100%	5	1.4	3.63	0.715	2.07	0.00	1.61
4	Howard ClowesDLA Piper	7	57%	3	0.7	4.51	0.850	3.11	0.00	0.00
5	Peter M. AstizDLA Piper	22	100%	5	2.0	2.48	0.854	1.51	0.77	1.27
6	J. HOWARD CLOWESDLA Piper	8	100%	3	0.7	4.24	0.868	2.84	0.00	0.00
7	Edward BattsDLA Piper	10	60%	3	0.7	4.47	0.873	2.50	0.00	0.90
8	PAUL A. BLUMENSTEINDLA Piper	9	100%	3	0.8	3.74	0.906	2.25	1.54	0.00
9	Andrew P. GilbertDLA Piper	49	84%	2	3.2	0.63	1.000	0.64	0.50	0.98
10	Stephen P. AlicantiDLA Piper	42	76%	2	1.3	1.52	1.000	1.12	0.00	0.51
11	Steven D. PidgeonDLA Piper	42	100%	5	3.6	1.39	1.000	0.90	0.90	1.01
12	Robert H. BergdoltDLA Piper	41	95%	1	2.2	0.46	1.000	0.74	0.00	0.93
13	Jeffrey C. SelmanDLA Piper	37	87%	2	1.4	1.40	1.000	1.06	1.33	1.25
14	Jeffrey C. ThackerDLA Piper	30	83%	4	2.2	1.82	1.000	1.35	1.17	0.81
15	Christopher C. PaciDLA Piper	27	85%	2	1.7	1.20	1.000	1.01	0.00	1.72
16	Douglas J. ReinDLA Piper	27	82%	3	2.5	1.23	1.000	1.08	0.49	0.81
17	Andrew LedbetterDLA Piper	22	86%	1	1.4	0.72	1.000	0.47	0.00	0.99
18	Jason C. HarmonDLA Piper	21	86%	2	1.5	1.32	1.000	2.37	0.00	0.35
19	GREGORY M. GALLODLA Piper	20	80%	2	1.8	1.09	1.000	0.67	1.01	1.40
20	David P. LewisDLA Piper	19	84%	2	1.6	1.23	1.000	0.76	0.00	0.81
21	Michael S. KagnoffDLA Piper	19	100%	2	1.4	1.44	1.000	1.72	0.00	1.74
22	Diane Holt FrankleDLA Piper	17	100%	1	1.7	0.59	1.000	0.37	1.59	1.00
23	Patrick J. O'MalleyDLA Piper	17	88%	1	0.6	1.66	1.000	0.79	0.00	2.31
24	Sanjay M. ShirodkarDLA Piper	17	94%	1	0.8	1.29	1.000	0.71	0.00	0.90
25	Henry LesserDLA Piper	16	88%	1	0.8	1.27	1.000	0.69	0.00	0.65
26	Larry W. NishnickDLA Piper	15	100%	2	0.8	2.59	1.000	4.04	0.00	1.28
27	Marjorie Sybul AdamsDLA Piper	15	87%	1	1.1	0.92	1.000	0.63	0.00	1.16
28	W. Michael HutchingsDLA Piper	15	93%	2	1.1	1.91	1.000	1.59	0.96	0.00
29	Sidney BurkeDLA Piper	14	64%	2	0.8	2.66	1.000	1.93	0.00	1.02
30	CAMERON JAY RAINSDLA Piper	13	100%	1	1.3	0.78	1.000	1.00	0.00	0.59
31	Francis J. Feeney Jr.DLA Piper	12	50%	2	0.7	2.71	1.000	2.36	1.05	1.26
32	Michael J. SteinDLA Piper	12	58%	2	0.7	3.09	1.000	2.46	0.00	0.54
33	Christopher P. GiordanoDLA Piper	11	82%	1	0.6	1.76	1.000	0.92	0.00	0.50
34	DAVID A. HUBBDLA Piper	11	91%	2	1.5	1.31	1.000	0.89	2.31	0.00
35	Marty B. LorenzoDLA Piper	11	91%	1	1.2	0.81	1.000	0.58	0.00	0.80
36	Patrick J. O MalleyDLA Piper	11	46%	2	0.4	4.85	1.000	1.94	0.00	4.10
37	Paul E. HurdlowDLA Piper	11	82%	1	0.8	1.27	1.000	0.83	0.00	1.46
38	Steven LiuDLA Piper	11	91%	1	0.9	1.06	1.000	0.69	1.51	1.49
39	Eric WangDLA Piper	10	80%	2	0.6	3.54	1.000	1.86	1.27	1.63
40	Bradley J. RockDLA Piper	9	100%	1	0.8	1.34	1.000	0.79	1.93	4.53
41	Steven L. WassermanDLA Piper	9	89%	1	1.0	0.97	1.000	1.37	0.00	1.84
42	Jeff ThackerDLA Piper	8	100%	1	0.7	1.48	1.000	2.01	6.98	0.74
43	Anna K. SpenceDLA Piper	7	71%	1	0.2	4.86	1.000	2.14	—	1.17
44	Matthew W. LeivoDLA Piper	7	86%	1	0.6	1.61	1.000	0.91	0.00	1.40
45	Rebecca K. SchmittDLA Piper	7	71%	1	0.4	2.70	1.000	1.45	0.00	2.73
46	BRUCE E. SCHAEFFERDLA Piper	6	100%	1	0.9	1.14	1.000	0.78	3.48	0.00
47	Ed BattsDLA Piper	6	83%	2	0.5	4.16	1.000	2.06	0.00	2.20
48	John F. MaselliDLA Piper	6	83%	1	0.5	1.98	1.000	1.81	0.00	0.92
49	John G. SaiaDLA Piper	6	100%	1	0.7	1.35	1.000	0.79	0.00	1.42
50	Sally J. RauDLA Piper	6	100%	1	0.4	2.45	1.000	1.50	0.00	2.36

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
DZS INC.DZSI (last ticker on record)	Nov 2003	Named in a filing	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
China Natural Gas, Inc.CHNG (last ticker on record)	Jun 2009	Text search only	SEC/DOJ scrutiny Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
I2 TECHNOLOGIES INCITWO (last ticker on record)	May 1999	Named in a filing	SEC/DOJ scrutiny 95% wipeout Restatement Restructuring Delisting notice (not a red flag)
SPATIALIGHT INCHDTV (last ticker on record)	Nov 1999	Named in a filing	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
TRIDENT MICROSYSTEMS INCTRIDQ (last ticker on record)	Aug 1996	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
ZCO LIQUIDATING CorpOCZ (last ticker on record)	Apr 2009	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
DAEGIS INC.DAEG (last ticker on record)	Aug 1998	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
FALCONSTOR SOFTWARE INCFALC (last ticker on record)	Sep 1996	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Restructuring Delisting notice (not a red flag)
FIRSTENERGY CORPFE (last ticker on record)	Mar 2010	Text search only	SEC/DOJ scrutiny Bankruptcy Restructuring Delisting notice (not a red flag)
GRANITE CONSTRUCTION INCGVA (last ticker on record)	Jun 1999	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
HAIN CELESTIAL GROUP INCHAIN (last ticker on record)	Nov 2008	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Restructuring Delisting notice (not a red flag)
ICONIX BRAND GROUP, INC.ICON (last ticker on record)	Oct 2016	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
JDA SOFTWARE GROUP INCJDAS (last ticker on record)	Jun 1996	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
MAGNACHIP SEMICONDUCTOR CorpMX (last ticker on record)	Mar 2008	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
Mercantile Bancorp, Inc.MBR (last ticker on record)	Jul 2010	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
MICROTUNE INCTUNE (last ticker on record)	Aug 2001	Named in a filing	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
PROJECT SAGE OLDCO, INC.SIEN (last ticker on record)	Jan 2018	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
SCICLONE PHARMACEUTICALS INCSCLN (last ticker on record)	Oct 1997	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
TVIA INCTVIA (last ticker on record)	Aug 2006	Named in a filing	SEC/DOJ scrutiny Restatement Bankruptcy Delisting notice (not a red flag)
Unilife CorpUNIS (last ticker on record)	Nov 2009	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
Code Rebel CorpCDRB (last ticker on record)	Jan 2015	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Bankruptcy
DISH Network CORPDISH (last ticker on record)	Jun 2019	Text search only	SEC/DOJ scrutiny 95% wipeout Restructuring Delisting notice (not a red flag)
ELECTRONIC GAME CARD INCEGMI (last ticker on record)	Jun 2005	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Bankruptcy
EXTREME NETWORKS INCEXTR (last ticker on record)	Feb 1999	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
JUNIPER NETWORKS INCJNPR (last ticker on record)	Sep 2016	Named in a filing	SEC/DOJ scrutiny Restructuring Delisting notice (not a red flag)
KLA CORPKLAC (last ticker on record)	Jan 1994	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
KYNTRA BIO, INC.KYNB (last ticker on record)	Nov 2014	Text search only	SEC/DOJ scrutiny 95% wipeout Restructuring Delisting notice (not a red flag)
RAE SYSTEMS INCRAE (last ticker on record)	May 2002	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
Super Micro Computer, Inc.SMCI (last ticker on record)	Nov 2006	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Delisting notice (not a red flag)
TANGOE INCTNGO (last ticker on record)	May 2011	Text search only	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
Under Armour, Inc.UA (last ticker on record)	Aug 2005	Text search only	SEC/DOJ scrutiny Restructuring Delisting notice (not a red flag)
XWELL, Inc.XWEL (last ticker on record)	Oct 2016	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Delisting notice (not a red flag)
CAREFUSION CorpCFN (last ticker on record)	May 2009	Named in SEC correspondence	SEC/DOJ scrutiny Restructuring Delisting notice (not a red flag)
FITBIT, INC.FIT (last ticker on record)	Mar 2015	Text search only	SEC/DOJ scrutiny Restructuring Delisting notice (not a red flag)
ICAHN ENTERPRISES L.P.IEP (last ticker on record)	May 2005	Named in a filing	SEC/DOJ scrutiny Restructuring Delisting notice (not a red flag)
Motorola Solutions, Inc.MSI (last ticker on record)	Aug 1998	Named in a filing	SEC/DOJ scrutiny Restructuring
QUALCOMM INC/DEQCOM (last ticker on record)	May 2001	Named in SEC correspondence	SEC/DOJ scrutiny Restructuring
RTB Digital, Inc.RTB (last ticker on record)	Feb 2025	Text search only	SEC/DOJ scrutiny 95% wipeout Delisting notice (not a red flag)
TherapeuticsMD, Inc.TXMD (last ticker on record)	Jun 2019	Named in a filing	SEC/DOJ scrutiny Restructuring Delisting notice (not a red flag)
VANTAGEMED CORPVMDC (last ticker on record)	Nov 1999	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout
ADOBE INC.ADBE (last ticker on record)	May 1995	Named in SEC correspondence	SEC/DOJ scrutiny Restructuring
China United Insurance Service, Inc.CUII (last ticker on record)	Aug 2017	Named in SEC correspondence	SEC/DOJ scrutiny Restatement
PETROTEQ ENERGY INC.PQEFF (last ticker on record)	Jun 2019	Named in a filing	SEC/DOJ scrutiny Restatement
Hilton Worldwide Holdings Inc.HLT (last ticker on record)	Sep 2013	Text search only	SEC/DOJ scrutiny Delisting notice (not a red flag)
ADAM INCADAM (last ticker on record)	Feb 2007	Named in a filing	SEC/DOJ scrutiny Delisting notice (not a red flag)
Animal Health Holdings, Inc.AHII (last ticker on record)	Mar 2011	Named in SEC correspondence	SEC/DOJ scrutiny Delisting notice (not a red flag)
Bison Merger Sub I, LLCFMSA (last ticker on record)	Aug 2014	Text search only	SEC/DOJ scrutiny Delisting notice (not a red flag)
COGNIZANT TECHNOLOGY SOLUTIONS CORPCTSH (last ticker on record)	Sep 2010	Named in a filing	SEC/DOJ scrutiny
FCA US LLCC_OLD (last ticker on record)	Feb 2011	Text search only	SEC/DOJ scrutiny
MAXWELL TECHNOLOGIES INCMXWL (last ticker on record)	Nov 2017	Named in SEC correspondence	SEC/DOJ scrutiny

At a glance

Every outcome

Lawyers at this firm

Linked companies

At a glance

Every outcome

Lawyers at this firm

Linked companies