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Rigrodsky & Long, P.A. announces that it has launched an investigation into Imperial Holdings, Inc. (“Imperial Holdings” or the “Company”) (NYSE:
IFT) for possible violations of the federal securities laws following a raid of the Company’s offices conducted by the FBI on September 27, 2011.
As a result of the FBI’s raid, shares of Imperial Holdings were halted at 1:42 p.m. on September 27, 2011 and did not trade the rest of the day. When the Company’s shares resumed trading on September 28, 2011, Imperial Holdings’ shares plummeted as much as 75%, trading as low as $2.19 per share.
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Imperial Holdings, through its subsidiaries, operates as a specialty finance company in the United States focused on providing premium financing for individual life insurance policies issued by insurance companies; and purchasing structured settlements.
On September 28, 2011, Imperial Holdings issued a press release wherein it confirmed that “the Company understands that it and certain of its employees, including its chairman and chief executive officer, and its president and chief operating officer, are under investigation in the District of New Hampshire with respect to its life finance business.”
If you are an Imperial Holdings shareholder, if you have information or would like to learn more about our investigation, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact
Timothy J. MacFall, Esquire or
Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware 19801, by telephone at (888) 969-4242, or by e-mail to
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates
securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.
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