This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Kahn Swick & Foti, LLC Announces Investigation Into Imperial Holdings Inc. Following Federal Raid

Fourth graph, last sentence of release issued September 28, 2011 should read: Underwriters on Imperial's IPO included FBR Capital Markets & Co., JMP Securities LLC, and Wunderlich Securities, Inc. (sted: Underwriters on Imperial’s IPO were led by FBR Capital Markets.)

The corrected release reads:

KAHN SWICK & FOTI, LLC ANNOUNCES INVESTIGATION INTO IMPERIAL HOLDINGS INC. FOLLOWING FEDERAL RAID

Kahn Swick & Foti, LLC (“KSF”) and KSF Partner Former Attorney General of Louisiana, Charles C. Foti, Jr. announce the commencement of an investigation into Imperial Holdings Inc. (NYSE:IFT - News), following the FBI’s raid of the Florida offices of the company. Imperial Holdings is a company that purports to make lump-sum payments on legal settlements and life insurance policies.

Imperial Holdings confirmed local media reports of the FBI raid and said it, along with certain employees, including its chairman and chief executive and its president and chief operating officer, were under investigation for matters related to the company’s life-insurance business.

Shares of Imperial were halted pending news at 1:42 p.m. yesterday, and did not trade the rest of the day. Prior to this halt, the stock last changed hands at $6.32, down 2.8 percent. Today, when shares resumed trading they fell an additional 60%, trading down $3.85, to $2.45 per share.

Imperial Holdings became a publicly traded company in February 2011 when it raised $179.2 million in an initial public offering, selling over 16.66 million shares to the public at $10.75 per share. Prior to the Company’s IPO, Imperial lost money every year from 2008 through 2010, but reported that it had suddenly become profitable in the first six months of this year, according to its posted financial statements. Underwriters on Imperial's IPO included FBR Capital Markets & Co., JMP Securities LLC, and Wunderlich Securities, Inc.

If you have information that would assist KSF in its investigation, or would like to discuss your legal rights as a shareholder, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn ( lewis.kahn@ksfcounsel.com), toll free 1-877-515-1850, or after hours via cell phone 504-301-7900.

About Kahn Swick & Foti, LLC

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,190.72 -23.70 -0.13%
S&P 500 2,109.74 -1.00 -0.05%
NASDAQ 4,982.1270 -5.7630 -0.12%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs