L. STEPHEN ALBRIGHT, ATTORNEY AT LAW

Linked to 7 companies since Jan 2001. A filing names it for all of those.

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.

1 of these companies later showed signs of SEC or DOJ scrutiny and had another red flag. Comparable companies would show 0.5, so that is 2.23× what you would expect.

SEC or DOJ scrutiny and another red flag: 2.23×; 1 company, 0.5 expected, q 1.000
SEC or DOJ scrutiny: 2.68×; 2 companies, 0.8 expected, q 1.000
Stopped filing, and the SEC acted: 1.62×; 2 companies, 1.2 expected, q 1.000
Shares fell 95% from their high: 0.00×; 0 companies, 0.7 expected

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	1	0.5	2.23	1.000
SEC or DOJ scrutiny	2	0.8	2.68	1.000
Stopped filing, and the SEC acted	2	1.2	1.62	1.000
Shares fell 95% from their high	0	0.7	0.00	—
Two or more different red flags	1	1.0	0.96	1.000
Said its accounts could not be relied on	2	1.4	1.45	1.000
Bankruptcy or receivership	1	0.4	2.36	1.000
Restructuring or accelerated debt	0	0.9	0.00	—
Delisting notice	0	1.0	0.00	—
SEC accounting enforcement release	2	0.1	13.04	1.000
An SEC release or DOJ statement names it, an officer or its stock	2	0.5	4.16	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

No lawyer at this firm has a page here. Only those linked to 5 or more companies do.

Linked companies

WithSortOnly where a filing names them

ELECTRONIC GAME CARD INCEGMI (last ticker on record)First linked May 2004 · Named in SEC correspondence
- SEC/DOJ scrutiny
- Restatement
- Bankruptcy

Companies linked to this firm or lawyer, and what came later among them. Click a column to sort.
		How it is known
ELECTRONIC GAME CARD INCEGMI (last ticker on record)	May 2004	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Bankruptcy

At a glance

Every outcome

Lawyers at this firm

Linked companies

At a glance

Every outcome

Lawyers at this firm

Linked companies