Business & Finance
Fri, October 7, 2011Thu, October 6, 2011Wed, October 5, 2011Tue, October 4, 2011Mon, October 3, 2011Sun, October 2, 2011Sat, October 1, 2011Fri, September 30, 2011Thu, September 29, 2011Wed, September 28, 2011Tue, September 27, 2011Mon, September 26, 2011Sun, September 25, 2011Sat, September 24, 2011Fri, September 23, 2011Thu, September 22, 2011Wed, September 21, 2011Tue, September 20, 2011Robbins Umeda LLP Announces an Investigation of Imperial Holdings, Inc.
Published in Business and Finance on Thursday, September 29th 2011 at 12:14 GMT by Market Wire
SAN DIEGO--([ BUSINESS WIRE ])--Robbins Umeda LLP, a [ shareholder rights litigation ] firm, has commenced an investigation into possible breaches of fiduciary duty and other violations of law by certain officers and directors at Imperial Holdings, Inc. (NYSE: IFT).
"under investigation in the District of New Hampshire with respect to its life finance business."
Robbins Umeda LLP's investigation focuses on whether officials at Imperial Holdings breached their fiduciary duties to shareholders and harmed the company. On September 27, 2011, federal investigators raided the company's Florida offices after officials at the company were served with a search warrant. Later the same day, Imperial Holdings issued a press release acknowledging that the company was "under investigation in the District of New Hampshire with respect to its life finance business." The company's press release also contained the additional revelation that the activities of Chief Executive Officer Anthony Mitchel and Chief Operating Officer Jonathan Neuman were also being investigated as a part of the federal probe.
On this news, shares of Imperial Holdings have lost upwards of 60% of their value. After recently closing as high as $10.00 per share on July 26, 2011, shares of the company's stock opened on September 28, 2011 at just $1.55 per share.
If you invested in Imperial Holdings and would like more information about your rights, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or via the [ shareholder information form ] on our website.
Robbins Umeda LLP represents individual and institutional shareholders in derivative, direct, and class action lawsuits. The law firm's skilled litigation teams include former federal prosecutors, former defense counsel from top multinational corporate law firms, and career [ shareholder rights attorneys ]. Robbins Umeda LLP has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. For more information, please go to [ http://www.robbinsumeda.com ].
Press release link: [ http://www.robbinsumeda.com/shareholders-rights-blog/imperial-holdings-inc/ ]
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