Shearman & Sterling

Linked to 2,650 companies since Jan 1994. A filing names it for 22% 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.

260 of these companies later showed signs of SEC or DOJ scrutiny and had another red flag. Comparable companies would show 199.2, so that is 1.31× what you would expect.

SEC or DOJ scrutiny and another red flag: 1.31×; 260 companies, 199.2 expected, q 0.035
SEC or DOJ scrutiny: 1.21×; 427 companies, 352.8 expected, q 0.276
Stopped filing, and the SEC acted: 0.13×; 14 companies, 111.2 expected, q 1.000
Shares fell 95% from their high: 0.84×; 267 companies, 319.0 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	260	199.2	1.31	0.035
SEC or DOJ scrutiny	427	352.8	1.21	0.276
Stopped filing, and the SEC acted	14	111.2	0.13	1.000
Shares fell 95% from their high	267	319.0	0.84	1.000
Two or more different red flags	506	406.6	1.24	0.036
Said its accounts could not be relied on	344	337.3	1.02	1.000
Bankruptcy or receivership	205	128.5	1.59	<0.001
Restructuring or accelerated debt	746	515.2	1.45	<0.001
Delisting notice	784	758.9	1.03	1.000
SEC accounting enforcement release	106	85.2	1.24	1.000
An SEC release or DOJ statement names it, an officer or its stock	204	184.4	1.11	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.
#
1	Michael J. KennedyShearman & Sterling	20	100%	5	1.5	3.29	0.757	2.39	0.00	1.09
2	Michael S. DorfShearman & Sterling	18	100%	4	1.5	2.68	0.921	1.59	1.35	1.31
3	Linda E. RappaportShearman & Sterling	5	100%	3	1.0	3.03	0.921	2.04	0.00	6.61
4	Clare O'BrienShearman & Sterling	23	74%	5	2.4	2.05	0.993	1.77	0.00	0.31
5	Steve L. CamahortShearman & Sterling	56	84%	4	4.3	0.92	1.000	0.94	0.00	0.47
6	Alan SeemShearman & Sterling	34	91%	2	1.8	1.11	1.000	1.24	0.00	1.20
7	Stephen T. GioveShearman & Sterling	33	88%	5	3.7	1.34	1.000	0.97	0.79	0.82
8	Danielle CarboneShearman & Sterling	26	85%	3	2.3	1.29	1.000	0.82	0.98	2.72
9	Lisa L. JacobsShearman & Sterling	25	84%	5	3.3	1.52	1.000	1.10	0.00	0.98
10	Peter D. LyonsShearman & Sterling	25	84%	5	2.5	2.03	1.000	1.55	0.00	0.32
11	Robert Evans IIIShearman & Sterling	25	76%	2	1.9	1.03	1.000	0.91	0.00	1.28
12	Michael J. SchiavoneShearman & Sterling	24	79%	3	2.4	1.23	1.000	1.12	0.00	0.48
13	Richard AlsopShearman & Sterling	24	96%	3	1.1	2.87	1.000	1.53	0.00	1.07
14	John J. Cannon IIIShearman & Sterling	22	86%	1	1.6	0.64	1.000	0.65	0.00	1.29
15	Robert M. KatzShearman & Sterling	22	55%	2	1.2	1.65	1.000	0.91	0.00	0.34
16	Rohan S. WeerasingheShearman & Sterling	19	53%	2	1.6	1.21	1.000	0.77	0.00	1.64
17	Abigail ArmsShearman & Sterling	18	67%	4	2.5	1.57	1.000	1.24	0.00	1.13
18	Christopher M. ForresterShearman & Sterling	18	100%	2	1.6	1.23	1.000	1.25	0.00	1.29
19	Lee EdwardsShearman & Sterling	18	39%	1	1.2	0.81	1.000	2.22	0.65	2.01
20	Robert C. TreuholdShearman & Sterling	14	100%	1	1.3	0.77	1.000	0.83	0.00	0.00
21	Joel S. KlapermanShearman & Sterling	13	85%	4	2.1	1.88	1.000	2.12	0.00	0.00
22	John A. Marzulli Jr.Shearman & Sterling	13	62%	2	1.7	1.17	1.000	1.69	0.00	0.00
23	George KarafotiasShearman & Sterling	12	58%	1	0.7	1.37	1.000	1.26	0.00	0.69
24	Alain DermarkarShearman & Sterling	11	55%	1	0.5	1.99	1.000	1.01	0.00	1.33
25	Brice T. VoranShearman & Sterling	11	100%	2	1.1	1.89	1.000	2.49	0.00	0.63
26	David J. BeveridgeShearman & Sterling	11	100%	2	0.6	3.26	1.000	1.81	0.00	1.26
27	Jason R. LehnerShearman & Sterling	11	82%	1	0.6	1.69	1.000	0.91	1.83	0.68
28	Bruce CzachorShearman & Sterling	10	90%	1	1.3	0.78	1.000	1.06	0.00	3.39
29	Christopher D. DillonShearman & Sterling	10	80%	3	1.1	2.78	1.000	1.91	0.00	0.62
30	Scott PetepieceShearman & Sterling	8	75%	1	0.9	1.08	1.000	1.98	0.00	1.32
31	Daniel LitowitzShearman & Sterling	7	86%	1	0.4	2.58	1.000	0.99	0.00	2.27
32	George A. CaseyShearman & Sterling	7	43%	2	0.5	4.02	1.000	1.78	0.00	1.64
33	James M. BartosShearman & Sterling	7	100%	1	1.0	1.02	1.000	0.68	0.00	0.00
34	Sami ToutounjiShearman & Sterling	7	100%	1	0.9	1.13	1.000	2.03	0.00	1.33
35	DAVID W. HELENIAKShearman & Sterling	6	100%	1	1.0	1.02	1.000	1.25	3.59	0.00
36	FAITH D. GROSSNICKLEShearman & Sterling	6	100%	1	0.6	1.67	1.000	2.04	4.30	0.00
37	George SperaShearman & Sterling	6	67%	2	1.1	1.84	1.000	1.23	0.00	2.37
38	James B. BucherShearman & Sterling	6	83%	2	1.3	1.58	1.000	1.10	0.00	1.85
39	JONATHAN JEWETTShearman & Sterling	6	83%	1	1.3	0.75	1.000	0.51	0.00	1.92
40	LINDA C. QUINNShearman & Sterling	6	100%	1	0.7	1.50	1.000	1.70	0.00	1.64
41	Pamela GibsonShearman & Sterling	6	83%	1	0.9	1.07	1.000	0.71	0.00	0.00
42	Stephen C. CentaShearman & Sterling	6	100%	1	0.3	3.10	1.000	3.48	2.24	0.00
43	James S. Scott Sr.Shearman & Sterling	5	80%	1	0.6	1.76	1.000	1.12	0.00	1.83
44	John J. MaddenShearman & Sterling	5	100%	1	1.1	0.91	1.000	1.20	0.00	0.00
45	Bill NelsonShearman & Sterling	29	45%	0	0.9	0.00	—	0.00	0.00	0.80
46	Matthew D. BersaniShearman & Sterling	25	52%	0	1.6	0.00	—	0.72	0.00	0.50
47	Stephanie TangShearman & Sterling	22	96%	0	0.7	0.00	—	1.49	1.83	0.50
48	Gillian Emmett MoldowanShearman & Sterling	20	90%	0	0.5	0.00	—	0.80	0.00	1.39
49	Andrew R. SchleiderShearman & Sterling	17	29%	0	1.4	0.00	—	0.41	0.00	0.56
50	Paul StreckerShearman & Sterling	15	40%	0	0.7	0.00	—	0.00	0.00	1.32

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
Bristow Group IncBRSWQ (last ticker on record)	Jul 2003	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
DANA IncDAN (last ticker on record)	Dec 2001	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
DELPHI CORPDPH (last ticker on record)	Mar 2003	Named in a filing	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
NEW RITE AID, LLCRAD (last ticker on record)	Jul 2001	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
PYXUS INTERNATIONAL, INC.PYYX (last ticker on record)	Sep 2009	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
Refco Inc.RFX (last ticker on record)	Dec 2004	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
TUPPERWARE BRANDS CORPTUP (last ticker on record)	Nov 2011	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
DITECH HOLDING CorpDHCP (last ticker on record)	Oct 2014	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
Energy XXI LtdEXXIQ (last ticker on record)	Dec 2009	Text search only	SEC/DOJ scrutiny 95% wipeout 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)
GULFPORT ENERGY CORPGPOR (last ticker on record)	Sep 2015	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
IES Holdings, Inc.IESC (last ticker on record)	Jul 2001	Text search only	SEC/DOJ scrutiny Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
KEY ENERGY SERVICES INCKEGX (last ticker on record)	Jun 2008	Text search only	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
LIBBEY INCLBY (last ticker on record)	Dec 2010	Text search only	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
PARKER DRILLING COPKD (last ticker on record)	Jul 2002	Text search only	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
SANDRIDGE ENERGY INCSD (last ticker on record)	Jun 2008	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
BASIC ENERGY SERVICES, INC.BASX (last ticker on record)	Sep 2009	Text search only	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag) Went dark (not a red flag)
DELTA AIR LINES, INC.DAL (last ticker on record)	Feb 2004	Named in a filing	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
FIRSTENERGY CORPFE (last ticker on record)	Aug 2007	Text search only	SEC/DOJ scrutiny Bankruptcy Restructuring Delisting notice (not a red flag)
GenOn Energy, Inc.GEN (last ticker on record)	Jul 2003	Text search only	SEC/DOJ scrutiny Restatement Bankruptcy Delisting notice (not a red flag)
Graphics Properties Holdings, Inc.SGIC (last ticker on record)	May 1995	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
INVACARE HOLDINGS CorpIVC (last ticker on record)	Apr 2007	Text search only	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
PAR PACIFIC HOLDINGS, INC.PARR (last ticker on record)	Aug 2005	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
REVLON INCREVRQ (last ticker on record)	Feb 2002	Text search only	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
ROTECH HEALTHCARE INCROHI (last ticker on record)	Oct 2002	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
TALOS PETROLEUM LLCSGY (last ticker on record)	Jan 2002	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
Unilife CorpUNIS (last ticker on record)	Jun 2010	Text search only	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
Vantage Drilling COVTG (last ticker on record)	Jul 2011	Text search only	SEC/DOJ scrutiny Bankruptcy Restructuring Delisting notice (not a red flag)
WCI COMMUNITIES INCWCI (last ticker on record)	Apr 2001	Text search only	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
American Airlines Group Inc.AAL (last ticker on record)	Aug 1994	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
AMERICAN AIRLINES, INC.	Mar 1999	Named in a filing	SEC/DOJ scrutiny Bankruptcy 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)
EXCO RESOURCES INCXCOOQ (last ticker on record)	Mar 2004	Text search only	SEC/DOJ scrutiny Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
EXPAND ENERGY CorpEXE (last ticker on record)	May 2001	Text search only	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
Frontier Communications Parent, Inc.FYBR (last ticker on record)	Sep 2001	Text search only	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
HAYES LEMMERZ INTERNATIONAL INCHAYZ (last ticker on record)	Jul 2003	Text search only	SEC/DOJ scrutiny Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
MAGNUM HUNTER RESOURCES CORPMHRCQ (last ticker on record)	Jan 2013	Text search only	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
NOVELION THERAPEUTICS INC.NVLNF (last ticker on record)	Aug 2006	Named in SEC correspondence	SEC/DOJ scrutiny Bankruptcy Restructuring Delisting notice (not a red flag) Went dark (not a red flag)
Pressburg, LLCROAN (last ticker on record)	May 2012	Text search only	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
SOLUTIA INCSOA (last ticker on record)	Sep 2002	Text search only	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
AMERICAN APPAREL, INCAPP (last ticker on record)	Aug 2013	Text search only	SEC/DOJ scrutiny Bankruptcy Restructuring Delisting notice (not a red flag)
Chord Energy CorpCHRD (last ticker on record)	Sep 2011	Text search only	95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
CONNS INCCONN (last ticker on record)	Apr 2015	Text search only	95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
DEX ONE CorpDEXO (last ticker on record)	May 2003	Text search only	95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
DYNEGY HOLDINGS, LLC	Jul 2001	Text search only	SEC/DOJ scrutiny Restatement Bankruptcy Restructuring
Enviva, LLCEVVAQ (last ticker on record)	Jun 2017	Text search only	95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
Euronav MI II Inc.GNRT (last ticker on record)	May 2010	Text search only	95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
EXIDE TECHNOLOGIESXIDEQ (last ticker on record)	Jun 2011	Text search only	SEC/DOJ scrutiny Bankruptcy Restructuring Delisting notice (not a red flag)
ION GEOPHYSICAL CORPIO (last ticker on record)	Feb 2014	Text search only	95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag) Went dark (not a red flag)
Jones Energy, Inc.JONE (last ticker on record)	Feb 2015	Text search only	95% wipeout Restatement Bankruptcy 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