Wachtell Lipton Rosen & Katz

Linked to 889 companies since Jan 1994. A filing names it for 68% 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.

91 of these companies later showed signs of SEC or DOJ scrutiny and had another red flag. Comparable companies would show 66.8, so that is 1.36× what you would expect.

SEC or DOJ scrutiny and another red flag: 1.36×; 91 companies, 66.8 expected, q 0.178
SEC or DOJ scrutiny: 1.29×; 159 companies, 123.5 expected, q 0.158
Stopped filing, and the SEC acted: 0.07×; 2 companies, 28.7 expected, q 1.000
Shares fell 95% from their high: 0.59×; 58 companies, 97.8 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	91	66.8	1.36	0.178
SEC or DOJ scrutiny	159	123.5	1.29	0.158
Stopped filing, and the SEC acted	2	28.7	0.07	1.000
Shares fell 95% from their high	58	97.8	0.59	1.000
Two or more different red flags	140	129.6	1.08	0.709
Said its accounts could not be relied on	89	101.4	0.88	1.000
Bankruptcy or receivership	41	35.8	1.15	1.000
Restructuring or accelerated debt	223	177.5	1.26	0.021
Delisting notice	324	253.7	1.28	<0.001
SEC accounting enforcement release	42	29.5	1.42	0.682
An SEC release or DOJ statement names it, an officer or its stock	84	66.3	1.27	0.993

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	ERIC S. ROBINSONWachtell Lipton Rosen & Katz	34	38%	8	3.0	2.69	0.590	1.87	0.00	1.18
2	Lawrence S. MakowWachtell Lipton Rosen & Katz	45	36%	12	6.1	1.97	0.715	1.75	0.00	0.87
3	Trevor S. NorwitzWachtell Lipton Rosen & Katz	15	100%	5	1.5	3.30	0.732	1.85	0.00	1.28
4	Steven A. RosenblumWachtell Lipton Rosen & Katz	55	31%	10	4.8	2.11	0.751	1.65	0.00	0.37
5	ANDREW R. BROWNSTEINWachtell Lipton Rosen & Katz	117	32%	17	10.2	1.67	0.792	1.36	0.00	0.48
6	Daniel A. NeffWachtell Lipton Rosen & Katz	75	37%	12	5.7	2.10	0.792	1.42	0.00	0.78
7	Nicholas G. DemmoWachtell Lipton Rosen & Katz	62	37%	10	5.0	1.99	0.792	1.60	0.00	0.83
8	David A. KatzWachtell Lipton Rosen & Katz	108	29%	15	9.0	1.66	0.842	1.44	0.00	0.68
9	MITCHELL S. PRESSERWachtell Lipton Rosen & Katz	9	89%	3	0.6	4.81	0.850	2.86	0.00	0.50
10	Benjamin M. RothWachtell Lipton Rosen & Katz	54	41%	8	4.2	1.91	0.885	1.66	0.00	0.52
11	Edward D. HerlihyWachtell Lipton Rosen & Katz	148	45%	14	14.2	0.98	1.000	1.03	0.00	0.42
12	David K. LamWachtell Lipton Rosen & Katz	110	32%	11	8.4	1.31	1.000	1.17	0.00	0.59
13	Adam O. EmmerichWachtell Lipton Rosen & Katz	91	54%	8	6.5	1.24	1.000	1.14	0.00	0.64
14	Matthew M. GuestWachtell Lipton Rosen & Katz	67	43%	6	4.8	1.25	1.000	1.19	0.00	0.48
15	David E. ShapiroWachtell Lipton Rosen & Katz	56	100%	2	3.9	0.52	1.000	0.95	0.00	0.52
16	Gregory E. OstlingWachtell Lipton Rosen & Katz	44	23%	5	3.7	1.35	1.000	1.11	0.00	0.51
17	Jenna E. LevineWachtell Lipton Rosen & Katz	35	60%	2	1.2	1.62	1.000	1.09	0.00	0.63
18	Craig M. WassermanWachtell Lipton Rosen & Katz	33	73%	5	4.8	1.04	1.000	1.49	1.05	0.62
19	Andrew J. NussbaumWachtell Lipton Rosen & Katz	29	100%	2	1.9	1.04	1.000	0.78	0.00	1.24
20	Victor GoldfeldWachtell Lipton Rosen & Katz	29	93%	1	1.1	0.95	1.000	1.27	0.00	0.44
21	Mark GordonWachtell Lipton Rosen & Katz	27	78%	1	1.8	0.55	1.000	0.74	0.00	0.49
22	Kathryn Gettles-AtwaWachtell Lipton Rosen & Katz	26	92%	3	1.3	2.32	1.000	1.80	0.00	0.76
23	Steven R. GreenWachtell Lipton Rosen & Katz	24	79%	1	0.7	1.47	1.000	0.48	0.00	0.38
24	Steven A. CohenWachtell Lipton Rosen & Katz	23	74%	2	1.3	1.57	1.000	1.17	0.00	1.59
25	Edward J. LeeWachtell Lipton Rosen & Katz	21	71%	1	1.2	0.82	1.000	1.81	0.00	0.00
26	Mark F. VeblenWachtell Lipton Rosen & Katz	14	100%	2	0.8	2.51	1.000	1.12	0.00	0.96
27	Patricia A. VlahakisWachtell Lipton Rosen & Katz	13	54%	3	1.8	1.69	1.000	1.28	0.00	0.74
28	David C. KarpWachtell Lipton Rosen & Katz	12	100%	2	1.1	1.80	1.000	1.72	0.00	1.02
29	PAMELA S. SEYMONWachtell Lipton Rosen & Katz	11	82%	1	1.5	0.68	1.000	0.88	0.00	0.89
30	ELLIOTT V. STEINWachtell Lipton Rosen & Katz	10	100%	2	1.2	1.70	1.000	1.11	0.00	0.00
31	Barry A. BryerWachtell Lipton Rosen & Katz	8	88%	2	1.2	1.71	1.000	1.48	0.00	0.00
32	Gavin D. SolotarWachtell Lipton Rosen & Katz	8	75%	1	0.9	1.09	1.000	0.72	0.00	0.00
33	Robin PanovkaWachtell Lipton Rosen & Katz	8	100%	1	0.5	1.85	1.000	0.70	0.00	5.69
34	STEPHANIE J. SELIGMANWachtell Lipton Rosen & Katz	8	100%	3	1.7	1.76	1.000	1.57	0.00	1.51
35	SETH A. KAPLANWachtell Lipton Rosen & Katz	7	100%	1	1.1	0.91	1.000	0.60	0.00	0.00
36	Alison M. ZieskeWachtell Lipton Rosen & Katz	6	83%	1	0.4	2.41	1.000	1.29	0.00	1.94
37	Mark A. StaglianoWachtell Lipton Rosen & Katz	40	25%	0	1.3	0.00	—	0.58	0.00	0.25
38	Jacob A. KlingWachtell Lipton Rosen & Katz	28	68%	0	0.9	0.00	—	0.00	0.00	0.00
39	John L. RobinsonWachtell Lipton Rosen & Katz	24	46%	0	0.7	0.00	—	0.00	0.00	0.31
40	Zachary S. PodolskyWachtell Lipton Rosen & Katz	16	94%	0	0.2	0.00	—	0.00	0.00	0.00
41	Alison Zieske PreissWachtell Lipton Rosen & Katz	15	40%	0	0.6	0.00	—	0.00	0.00	0.81
42	Marshall P. ShafferWachtell Lipton Rosen & Katz	15	60%	0	0.5	0.00	—	0.00	0.00	0.75
43	Igor KirmanWachtell Lipton Rosen & Katz	14	93%	0	0.8	0.00	—	0.00	0.00	0.00
44	Ronald C. ChenWachtell Lipton Rosen & Katz	13	100%	0	0.7	0.00	—	1.12	0.00	0.00
45	Joshua R. CammakerWachtell Lipton Rosen & Katz	11	100%	0	0.5	0.00	—	0.72	0.00	1.51
46	Gordon S. MoodieWachtell Lipton Rosen & Katz	9	89%	0	0.5	0.00	—	0.00	0.00	0.00
47	DAVID M. SILKWachtell Lipton Rosen & Katz	8	100%	0	0.4	0.00	—	0.00	0.00	0.00
48	RICHARD D. KATCHERWachtell Lipton Rosen & Katz	8	100%	0	0.6	0.00	—	0.99	0.00	0.00
49	Kyle M. DiamondWachtell Lipton Rosen & Katz	6	100%	0	0.1	0.00	—	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
DANA IncDAN (last ticker on record)	May 1998	Named in a filing	SEC/DOJ scrutiny 95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
AVIS BUDGET GROUP, INC.CAR (last ticker on record)	Aug 1997	Named in a filing	SEC/DOJ scrutiny 95% wipeout Restatement Restructuring Delisting notice (not a red flag)
HERTZ CORP	Jan 2001	Named in a filing	SEC/DOJ scrutiny Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
ODP CorpODP (last ticker on record)	Jun 2008	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Restructuring Delisting notice (not a red flag)
MATTEL INCMAT (last ticker on record)	Feb 1997	Named in a filing	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
MONSANTO COMON (last ticker on record)	Sep 2000	Named in a filing	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
MONSTER WORLDWIDE, INC.MWW (last ticker on record)	Oct 2001	Named in a filing	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
PHOENIX COMPANIES INC/DEPNX (last ticker on record)	Feb 2001	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Delisting notice (not a red flag)
PPG INDUSTRIES INCPPG (last ticker on record)	Dec 2012	Named in a filing	SEC/DOJ scrutiny Restatement 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)
AMERICAN INTERNATIONAL GROUP, INC.AIG (last ticker on record)	Jun 2001	Named in a filing	SEC/DOJ scrutiny 95% wipeout Restatement
BORGWARNER INCBWA (last ticker on record)	Jun 1996	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring
CARDINAL HEALTH INCCAH (last ticker on record)	Oct 1995	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring
FRANKLIN BANK CORPFBTX (last ticker on record)	Aug 2003	Named in a filing	95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag) Went dark (not a red flag)
PNC FINANCIAL SERVICES GROUP, INC.PNC (last ticker on record)	Oct 2003	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring
REGIS CORPRGS (last ticker on record)	Nov 2011	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Restructuring Delisting notice (not a red flag)
Santander Consumer USA Holdings Inc.SC (last ticker on record)	Jul 2013	Named in a filing	SEC/DOJ scrutiny Restatement Delisting notice (not a red flag)
SkinHealth Systems Inc.SKIN (last ticker on record)	Aug 2020	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Restructuring Delisting notice (not a red flag)
SPRUCE POWER HOLDING CORPSPRU (last ticker on record)	Apr 2019	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Restructuring
TYSON FOODS, INC.TSN (last ticker on record)	Aug 2001	Text search only	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
ALASKA COMMUNICATIONS SYSTEMS GROUP INCALSK (last ticker on record)	Jul 1999	Named in a filing	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
BANK OF AMERICA CORPBAC (last ticker on record)	Nov 1996	Named in SEC correspondence	SEC/DOJ scrutiny Restatement
Bankrate, Inc.RATE (last ticker on record)	Apr 2011	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
BlackRock Finance, Inc.BLK (last ticker on record)	Jun 2006	Text search only	SEC/DOJ scrutiny Restatement Delisting notice (not a red flag)
BRC Group Holdings, Inc.RILY (last ticker on record)	Mar 2017	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Restatement Delisting notice (not a red flag)
FORD MOTOR COF (last ticker on record)	Feb 2001	Text search only	SEC/DOJ scrutiny Restatement Restructuring
Global Gas CorpHGAS (last ticker on record)	Jul 2020	Text search only	SEC/DOJ scrutiny 95% wipeout Restatement Delisting notice (not a red flag)
HEXION INC.	Nov 1994	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Bankruptcy Restructuring
HILFIGER TOMMY CORPTOM (last ticker on record)	Feb 1997	Named in SEC correspondence	SEC/DOJ scrutiny 95% wipeout Restatement Delisting notice (not a red flag)
JPMORGAN CHASE & COJPM (last ticker on record)	Feb 2004	Named in a filing	SEC/DOJ scrutiny Restatement
LANXESS Solutions US Inc.CHMT (last ticker on record)	Jul 1999	Named in a filing	95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
LendingTree, Inc.TREE (last ticker on record)	Jun 2008	Named in a filing	95% wipeout Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
STARZ ENTERTAINMENT CORPSTRZ (last ticker on record)	Mar 2010	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Delisting notice (not a red flag)
Ventas, Inc.VTR (last ticker on record)	Apr 2011	Named in SEC correspondence	SEC/DOJ scrutiny Restatement
Virtu KCG Holdings LLCKCG (last ticker on record)	Feb 2013	Named in a filing	SEC/DOJ scrutiny Restatement Restructuring Delisting notice (not a red flag)
Akili, Inc.AKLI (last ticker on record)	Apr 2021	Named in a filing	95% wipeout Restatement Restructuring Delisting notice (not a red flag)
CIT GROUP INCCIT (last ticker on record)	Nov 2008	Named in a filing	Restatement Bankruptcy Restructuring Delisting notice (not a red flag)
GENERAL MILLS INCGIS (last ticker on record)	Dec 1996	Named in a filing	SEC/DOJ scrutiny Restatement Restructuring
LOEWS CORPL (last ticker on record)	Feb 1997	Named in a filing	SEC/DOJ scrutiny Restatement Delisting notice (not a red flag)
Match Group, Inc.MTCH (last ticker on record)	Nov 1996	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Delisting notice (not a red flag)
ONTO INNOVATION INC.ONTO (last ticker on record)	Mar 2005	Text search only	95% wipeout Restatement Restructuring Delisting notice (not a red flag)
SoFi Technologies, Inc.SOFI (last ticker on record)	Jan 2021	Text search only	SEC/DOJ scrutiny Restatement Delisting notice (not a red flag)
URS CORPURS (last ticker on record)	Jul 2007	Named in SEC correspondence	SEC/DOJ scrutiny Restatement Restructuring
COLLECTIVE BRANDS, INC.PSS (last ticker on record)	Mar 2000	Named in a filing	Restatement Restructuring Delisting notice (not a red flag)
CROWN MEDIA HOLDINGS INCCRWN (last ticker on record)	Jan 2000	Named in a filing	Restatement Restructuring Delisting notice (not a red flag)
HERC HOLDINGS INCHRI (last ticker on record)	Oct 2006	Text search only	Restatement Restructuring Delisting notice (not a red flag)
HERCULES INCHPC (last ticker on record)	Aug 2001	Named in SEC correspondence	Restatement Restructuring Delisting notice (not a red flag)
Hilltop Holdings Inc.HTH (last ticker on record)	Dec 2003	Named in SEC correspondence	Restatement Restructuring Delisting notice (not a red flag)
Iridium Communications Inc.IRDM (last ticker on record)	Nov 2007	Text search only	Restatement Restructuring Delisting notice (not a red flag)
LEAP WIRELESS INTERNATIONAL INCLEAP (last ticker on record)	Aug 2011	Named in a filing	95% wipeout Restatement 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