Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of Florida on behalf of investors who purchased Imperial Holdings, Inc. (“Imperial” or the “Company”) (NYSE: IFT) pursuant and/or traceable to the Company’s Registration and Prospectus issued in connection with the Company’s February 7, 2011 initial public offering (the “IPO” or the ‘Offering”).
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The Complaint alleges that the Registration Statement and Prospectus issued in connection with the IPO misrepresented or failed to disclose that the Company had engaged in wrongdoing in connection with its life finance business, thus potentially exposing Imperial and certain of its employees to a criminal investigation.
On September 27, 2011, the Company disclosed that it was currently under investigation in the District of New Hampshire and that the FBI had raided Company headquarters. Upon this news, shares of Imperial fell more than 65 percent, to close at $4.11 per share on September 28, 2011.
If you suffered a loss in Imperial Holdings you have until January 17, 2012
to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at
or by telephone at (877) 363-5972, or visit
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. Attorney advertising. Prior results do not guarantee similar outcomes.