Imperial Holdings, Inc. (NYSE:IFT) ("Imperial"), a specialty finance company with a focus on providing liquidity solutions on individual life insurance policies and purchasing structured settlement payments, today announced that it has filed a Form 12b-25 Notification of Late Filing with the Securities and Exchange Commission (SEC) with regard to its Annual Report on Form 10-K for the year ended December 31, 2011.
The Company is unable to file its Form 10-K on a timely basis and cannot, at this time, predict when it will be in a position to file the Form 10-K. According to the notification filed with the SEC, the Company expects that it will be unable to complete financial statements for the year ended December 31, 2011 until the Company is able to establish the fair value of premium finance loans on its balance sheet and of certain life insurance policies in the Company’s portfolio that have a nexus to the Company’s premium finance unit, and resolve other related issues as part of the previously disclosed ongoing internal investigation. The Company urges investors to review additional details disclosed in its 12b-25 filing, which can be found at www.sec.gov or the investor relations section of the Company’s website at www.imperial.com.
About Imperial Holdings, Inc.
Imperial is a leading specialty finance company that, through its operating subsidiaries, provides customized liquidity solutions to owners of illiquid financial assets. Imperial’s primary operating units are Life Finance and Structured Settlements. In its Life Finance unit, Imperial provides premium finance loans to policyholders for the payment of premiums and purchases life insurance policies. In its Structured Settlements unit, Imperial purchases from individuals long-term annuity payments issued by highly rated U.S. domestic insurance companies. More information about Imperial can be found at www.imperial.com.Safe Harbor Statement This press release may contain certain "forward-looking statements" relating to the business of Imperial Holdings, Inc. and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, and involve known and unknown risks and uncertainties. Although Imperial believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Imperial's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Imperial's periodic reports that are filed with the Securities and Exchange Commission and available on its website at www.sec.gov. All forward-looking statements attributable to Imperial or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, Imperial does not assume a duty to update these forward-looking statements.