Performing sub-par due diligence can create a devastating financial blow to a client. For a northeast regional law firm, partnering with SMI Aware saved millions of dollars for the firm’s client who was seeking an investor. SMI Aware was engaged by a firm with over 150 attorneys to assist in the due diligence process for a Private Equity transaction. Attorneys from the firm contacted SMI Aware and requested a Deep Report on a key subject involved in a capital campaign with their client. The attorney provided SMI Aware with a LinkedIn account, business name, and loan document with the request to conduct a general investigation into the principal of the private equity firm and expose any items of interest or potential risk.
During the investigation the SMI Aware analyst used proprietary technology and meticulous procedures to expose a concerning pattern of behavior. The Deep Report contained valuable information that prevented this transaction from occurring and saved the client a substantial financial loss and damaged reputation. As a result of the Deep Report, SMI Aware identified a fraudulent LinkedIn profile, aliases, multiple arrests, civil actions, and non-legitimate companies.
Due diligence occurs across the spectrum of engagements whether it is the client, the client’s investor or even the firm’s employee who will also be entrusted to perform due diligence. Law Firms that are engaged in private equity, M & A, and business transactions should utilize the SMI Aware Deep Report as standard practice to source data. Alternative data sources such as Social Media and the Web are now a necessary component of any due diligence. How can the SMI Aware Deep Report help your firm?