Sullivan & Cromwell

Linked to 1,047 companies since Jan 1994. A filing names it for 67% 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.

103 of these companies later showed signs of SEC or DOJ scrutiny and had another red flag. Comparable companies would show 85.6, so that is 1.20× what you would expect.

SEC or DOJ scrutiny and another red flag: 1.20×; 103 companies, 85.6 expected, q 0.708
SEC or DOJ scrutiny: 1.40×; 208 companies, 149.0 expected, q 0.002
Stopped filing, and the SEC acted: 0.15×; 5 companies, 33.2 expected, q 1.000
Shares fell 95% from their high: 0.66×; 83 companies, 125.4 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	103	85.6	1.20	0.708
SEC or DOJ scrutiny	208	149.0	1.40	0.002
Stopped filing, and the SEC acted	5	33.2	0.15	1.000
Shares fell 95% from their high	83	125.4	0.66	1.000
Two or more different red flags	172	166.8	1.03	0.990
Said its accounts could not be relied on	133	139.3	0.95	1.000
Bankruptcy or receivership	48	41.8	1.15	0.730
Restructuring or accelerated debt	231	214.6	1.08	0.757
Delisting notice	349	306.5	1.14	0.160
SEC accounting enforcement release	59	36.0	1.64	0.247
An SEC release or DOJ statement names it, an officer or its stock	103	78.9	1.31	0.826

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	Donald C. WalkovikSullivan & Cromwell	10	90%	6	1.9	3.22	0.473	2.18	0.00	0.00
2	Scott D. MillerSullivan & Cromwell	47	89%	8	2.6	3.03	0.522	2.40	0.00	1.25
3	Robert W. Reeder IIISullivan & Cromwell	8	88%	5	1.7	2.91	0.721	2.58	0.00	3.69
4	Alison S. ResslerSullivan & Cromwell	37	100%	7	3.3	2.09	0.852	1.85	0.00	0.97
5	David B. HarmsSullivan & Cromwell	19	90%	5	2.1	2.42	0.861	2.32	0.00	0.00
6	Charles S. Whitman IIISullivan & Cromwell	9	89%	3	0.8	3.97	0.874	3.91	0.00	0.00
7	Robert W. DownesSullivan & Cromwell	58	97%	8	4.2	1.92	0.877	1.62	0.82	0.51
8	Robert E. BuckholzSullivan & Cromwell	39	92%	8	4.3	1.84	0.903	2.39	0.00	0.86
9	John L. SavvaSullivan & Cromwell	28	86%	4	1.4	2.76	0.922	1.65	0.00	1.08
10	Keith A. PagnaniSullivan & Cromwell	16	81%	4	1.5	2.62	0.922	1.36	0.00	0.67
11	Marc TrevinoSullivan & Cromwell	12	75%	3	0.8	3.53	0.922	1.58	0.00	0.99
12	Catherine M. ClarkinSullivan & Cromwell	52	100%	6	3.2	1.86	1.000	1.52	0.00	0.75
13	Patrick S. BrownSullivan & Cromwell	37	87%	4	3.0	1.35	1.000	0.99	0.00	1.14
14	Krishna VeeraraghavanSullivan & Cromwell	30	100%	3	1.6	1.85	1.000	1.48	0.00	0.38
15	Mitchell S. EitelSullivan & Cromwell	29	69%	5	3.0	1.67	1.000	1.87	0.00	0.47
16	Mark J. MentingSullivan & Cromwell	24	92%	2	2.7	0.73	1.000	1.51	0.00	0.00
17	William G. FarrarSullivan & Cromwell	23	91%	1	2.5	0.40	1.000	0.72	0.00	0.44
18	Joseph B. FrumkinSullivan & Cromwell	22	73%	4	2.1	1.91	1.000	1.91	0.00	0.93
19	Francis J. AquilaSullivan & Cromwell	21	91%	3	1.3	2.29	1.000	1.52	0.00	0.34
20	Jared M. FishmanSullivan & Cromwell	20	90%	2	1.2	1.73	1.000	1.49	0.00	0.36
21	Matthew G. HurdSullivan & Cromwell	19	79%	3	1.7	1.77	1.000	1.54	0.00	0.00
22	William Y. ChuaSullivan & Cromwell	18	78%	1	2.0	0.51	1.000	0.61	0.00	1.55
23	Ari B. BlautSullivan & Cromwell	17	41%	2	0.7	2.81	1.000	2.36	0.00	1.49
24	Melissa SawyerSullivan & Cromwell	17	82%	1	0.7	1.53	1.000	1.08	0.00	1.25
25	James C. MorphySullivan & Cromwell	16	75%	2	2.0	1.01	1.000	0.92	0.00	1.17
26	Mario SchollmeyerSullivan & Cromwell	16	63%	1	0.4	2.75	1.000	2.44	0.00	1.07
27	Eric M. KrautheimerSullivan & Cromwell	15	73%	2	1.2	1.61	1.000	1.53	0.00	0.00
28	Frank J. AquilaSullivan & Cromwell	15	67%	3	1.0	2.95	1.000	1.86	0.00	0.00
29	John EvangelakosSullivan & Cromwell	15	67%	2	1.8	1.09	1.000	0.95	2.37	0.00
30	Robert S. RisoleoSullivan & Cromwell	15	100%	1	1.7	0.58	1.000	0.64	2.54	1.36
31	STANLEY F. FARRARSullivan & Cromwell	15	100%	2	1.5	1.36	1.000	1.32	0.00	0.57
32	C. Andrew GerlachSullivan & Cromwell	14	79%	1	1.1	0.92	1.000	2.05	0.00	0.98
33	George J. SampasSullivan & Cromwell	14	64%	1	1.2	0.81	1.000	1.32	0.00	0.00
34	Stephen M. KotranSullivan & Cromwell	14	71%	3	1.4	2.11	1.000	1.66	0.00	1.65
35	Jay ClaytonSullivan & Cromwell	13	100%	1	1.1	0.93	1.000	2.43	0.00	0.89
36	Andrew D. SoussloffSullivan & Cromwell	12	75%	1	1.9	0.52	1.000	1.45	0.00	0.00
37	Brian E. HamiltonSullivan & Cromwell	12	67%	1	0.8	1.17	1.000	1.60	0.00	0.00
38	Mark J. WelshimerSullivan & Cromwell	11	91%	2	1.3	1.53	1.000	2.97	0.00	1.22
39	Scott B. CroftonSullivan & Cromwell	11	82%	1	0.5	2.19	1.000	1.09	0.00	0.47
40	Donald J. ToumeySullivan & Cromwell	10	60%	1	1.3	0.78	1.000	0.49	0.00	0.00
41	JOHN P. MEADSullivan & Cromwell	10	100%	3	0.9	3.38	1.000	2.63	3.39	0.00
42	Duncan C. McCurrachSullivan & Cromwell	9	67%	2	1.5	1.36	1.000	1.73	0.00	0.00
43	Matthew B. GoodmanSullivan & Cromwell	9	89%	1	0.4	2.66	1.000	3.70	0.00	0.00
44	NEIL T. ANDERSONSullivan & Cromwell	8	100%	2	0.9	2.20	1.000	2.85	0.00	1.08
45	Frank H. Golay Jr.Sullivan & Cromwell	7	100%	1	0.7	1.47	1.000	1.00	0.00	0.90
46	Andrew S. RowenSullivan & Cromwell	6	67%	2	1.0	1.95	1.000	1.92	0.00	0.00
47	Ann Bailen FisherSullivan & Cromwell	6	83%	2	0.9	2.28	1.000	2.91	0.00	1.92
48	Anthony J. CollettaSullivan & Cromwell	6	33%	1	0.8	1.33	1.000	1.54	0.00	0.00
49	Glen T. SchleyerSullivan & Cromwell	6	83%	1	0.7	1.42	1.000	2.49	0.00	1.58
50	Benjamin F. StapletonSullivan & Cromwell	5	80%	2	0.8	2.38	1.000	2.33	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
Stark Novus Financial Inc.NRDE (last ticker on record)	Aug 2020	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
DIEBOLD NIXDORF, IncDBD (last ticker on record)	Nov 2015	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Bankruptcy Restructuring Delisting notice (not a red flag)
FIFTH THIRD BANCORPFITB (last ticker on record)	Mar 1997	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Restatement Restructuring Delisting notice (not a red flag)
Latch, Inc.LTCH (last ticker on record)	Sep 2020	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Restatement Restructuring Delisting notice (not a red flag)
Nikola CorpNKLA (last ticker on record)	Mar 2020	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
SANDRIDGE ENERGY INCSD (last ticker on record)	Jun 2007	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)	Jul 2001	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Restructuring Delisting notice (not a red flag)
AVON PRODUCTS INCAVP (last ticker on record)	Dec 1997	Named in a filing	SEC/DOJ scrutiny 95% wipeout Restructuring Delisting notice (not a red flag)
BAUSCH & LOMB INCBOL (last ticker on record)	Apr 1994	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
CA, INC.CA (last ticker on record)	Nov 2004	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
CSC HOLDINGS LLCCVC (last ticker on record)	Sep 1995	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
DORAL FINANCIAL CORPDRL (last ticker on record)	Jun 2004	Named in a filing	SEC/DOJ scrutiny Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
Endo International plcENDP (last ticker on record)	Nov 2014	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)	Mar 2021	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Restatement Restructuring Delisting notice (not a red flag)
LL Flooring Holdings, Inc.LL (last ticker on record)	Apr 2007	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Bankruptcy 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)
MATTEL INCMAT (last ticker on record)	Jun 2006	Named in a filing	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
PPG INDUSTRIES INCPPG (last ticker on record)	Nov 1995	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
TENET HEALTHCARE CORPTHC (last ticker on record)	Apr 1997	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Restatement Restructuring
AFFILIATED COMPUTER SERVICES INCACS (last ticker on record)	Mar 2001	Text search only	SEC/DOJ scrutiny Restatement Restructuring
AMERICAN INTERNATIONAL GROUP, INC.AIG (last ticker on record)	Jun 1995	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Restatement
Bausch Health Companies Inc.BHC (last ticker on record)	Jul 2010	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Restatement Restructuring
BAXTER INTERNATIONAL INCBAX (last ticker on record)	May 2019	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Delisting notice (not a red flag)
COMERICA INCCMA (last ticker on record)	Dec 2000	Named in a filing	SEC/DOJ scrutiny Restructuring Delisting notice (not a red flag)
DISH Network CORPDISH (last ticker on record)	Dec 2007	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Restructuring Delisting notice (not a red flag)
JUNIPER NETWORKS INCJNPR (last ticker on record)	Apr 2019	Named in a filing	SEC/DOJ scrutiny Restructuring Delisting notice (not a red flag)
KB HOMEKBH (last ticker on record)	Jan 2005	Named in a filing	SEC/DOJ scrutiny Restatement Restructuring
KIMBERLY CLARK CORPKMB (last ticker on record)	Jun 1994	Named in SEC correspondence	SEC/DOJ scrutiny Restructuring Delisting notice (not a red flag)
KROGER COKR (last ticker on record)	Aug 1995	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring
KYNTRA BIO, INC.KYNB (last ticker on record)	Jun 2014	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Restructuring Delisting notice (not a red flag)
MERRILL LYNCH & CO., INC.MER (last ticker on record)	Feb 2002	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Delisting notice (not a red flag)
PNC FINANCIAL SERVICES GROUP, INC.PNC (last ticker on record)	Aug 2004	Named in a filing	SEC/DOJ scrutiny Restatement Restructuring
PRUDENTIAL FINANCIAL INCPRU (last ticker on record)	Apr 2001	Named in a filing	SEC/DOJ scrutiny Restatement Restructuring
Sculptor Capital Management, Inc.SCU (last ticker on record)	Jul 2007	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Restatement Delisting notice (not a red flag)
VEREIT, Inc.VER (last ticker on record)	Nov 2013	Text search only	SEC/DOJ scrutiny Restatement Delisting notice (not a red flag)
VERIFONE SYSTEMS, INC.PAY (last ticker on record)	Jan 2005	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Delisting notice (not a red flag)
ALTABA INC.AABA (last ticker on record)	Dec 2002	Text search only	SEC/DOJ scrutiny Restructuring
ASSURANT, INC.AIZ (last ticker on record)	Nov 2008	Named in a filing	SEC/DOJ scrutiny Restructuring
BlackRock Finance, Inc.BLK (last ticker on record)	Jun 2006	Text search only	SEC/DOJ scrutiny Restatement Delisting notice (not a red flag)
Covidien plcCOV (last ticker on record)	Jan 2007	Named in a filing	SEC/DOJ scrutiny Restructuring Delisting notice (not a red flag)
FLAGSTAR BANCORP INCFBC (last ticker on record)	May 2002	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Delisting notice (not a red flag)
FLAGSTAR BANK, NATIONAL ASSOCIATIONFLG (last ticker on record)	Aug 2000	Named in SEC correspondence	SEC/DOJ scrutiny Restructuring Delisting notice (not a red flag)
FULTON FINANCIAL CORPFULT (last ticker on record)	Jul 2014	Named in a filing	SEC/DOJ scrutiny Restructuring
GOOGLE INC.GOOG (last ticker on record)	Apr 2004	Text search only	SEC/DOJ scrutiny Restructuring Delisting notice (not a red flag)
JPMORGAN CHASE & COJPM (last ticker on record)	Dec 2009	Named in a filing	SEC/DOJ scrutiny Restatement
L3HARRIS TECHNOLOGIES, INC.LHX (last ticker on record)	Mar 2015	Named in SEC correspondence	SEC/DOJ scrutiny Restructuring
ST JOE CoJOE (last ticker on record)	May 2002	Named in a filing	SEC/DOJ scrutiny Restructuring
UNISYS CORPUIS (last ticker on record)	Feb 2016	Named in a filing	SEC/DOJ scrutiny Restructuring Delisting notice (not a red flag)
UNITEDHEALTH GROUP INCUNH (last ticker on record)	May 2004	Named in a filing	SEC/DOJ scrutiny Restatement
Ventas, Inc.VTR (last ticker on record)	May 1995	Named in SEC correspondence	SEC/DOJ scrutiny Restatement

At a glance

Every outcome

Lawyers at this firm

Linked companies

At a glance

Every outcome

Lawyers at this firm

Linked companies