Gilman Law Investigates Securities Fraud Lawsuit Against Imperial Holdings, Inc.
Gilman Law LLP, a leading national securities law firm, has commenced an investigation into Imperial Holdings, Inc. (“Imperial”) and their company’s life-insurance business. Imperial, based in Florida, is a specialty finance company focused on providing premium finance and structured settlements.
For over 40 years, the lawyers at Gilman Law have been involved in all major aspects of securities fraud litigation. The firm specializes in cases involving stock manipulation, securities fraud, and shareholder rights violations. If you purchased or otherwise acquired shares of Imperial Holdings, Inc. (NYSE: IFT), you may contact Gilman Law LLP to discuss your rights, including as to recovery of your losses or to obtain additional information.
FBI Raids Florida Offices of Imperial Holdings
Imperial and several of its executive officers are under investigation by the FBI in connection with its life finance business, which buys life insurance policies for a fraction of their value and later collects the payout. On Tuesday, September 27, Federal agents raided the Florida offices pursuant to a search warrant issued by a magistrate judge in Miami Federal Court.
IFT Shares Plummeted After Raid
In February 2011, the Company went public with a $179.2 million initial public offering underwritten by FBR Capital Markets by selling over 16.66 million shares to the public at $10.75 per share. Prior to Imperial’s IPO, the Company lost money every year from 2008 through 2010. As a result of the raid, the trading of the Company’s stock was suspended on Tuesday afternoon at $6.40 per share. The following day, the value of the IFT shares dropped drastically by 60%, closing at $2.19.
Gilman Law has extensive experience representing both individual and institutional investors in securities class action suits. Gilman Law has recovered over a billion dollars for its clients and can help you recover any losses that you have incurred as a result of Imperial’s fraudulent practices. For a free evaluation of your case or to obtain additional information, you may complete our free consultation form or CALL TOLL FREE (888) 252-0048.