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BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith, representing investors of Imperial Holdings, Inc. (aImperiala or the aCompanya) (NYSE:IFT), has filed a class action lawsuit in the United States District Court for the Southern District of Florida on behalf of all persons or entities who purchased or otherwise acquired the common stock of Imperial Holdings, Inc. (aImperiala or the aCompanya) (NYSE:IFT) pursuant and/or traceable to the Company's Registration Statement and Prospectus issued in connection with the Company's February 7, 2011 initial public offering (the aIPOa).

"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."

Imperial provides premium financing for individual life insurance policies and purchases life insurance policies in the life settlement and secondary markets for resale to investors. 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 serious wrongdoing in connection with its life finance business, which would expose Imperial and certain of its employees, including its chief executive officer and its chief operating officer, to a criminal investigation by the FBI in conjunction with the United States Attorney's Office for the District of New Hampshire.

On September 27, 2011, after the close of trading, Imperial issued a press release announcing that it had been served with a search warrant issued by a U.S. Magistrate Judge for the Southern District of Florida. The Company disclosed that ait 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.a Following this news, shares of the Company's stock declined $4.11 per share, or 65.24%, to close at $2.19 per share on September 28, 2011, on unusually heavy trading volume. This closing price represented a cumulative loss of $8.56, or 79.63%, of the value of the Company's shares at the IPO price of $10.75 per share, just months earlier.

No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Imperial common stock pursuant to the Company's February 7, 2011 IPO, you have until January 17, 2012, to move for lead plaintiff status. To be a member of the class you need not take action at this time; you may retain counsel of your choice or take no action and remain an absent class member. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215)638-4847, Toll-Free at (888)638-4847, by email to [ howardsmith@howardsmithlaw.com ] or visit our website at [ http://www.howardsmithlaw.com ].