Overview Of The Settlement

Fuller v. Imperial Holdings, Inc., Case No. 9:11-cv-81184-KAM

The Securities Settlement resolves class litigation, Martin Fuller v. Imperial Holdings, et al., S.D. Fla. Case No. 11-81184-CIV-MARRA, over whether Imperial made certain misrepresentations in its Registration Statement relating to its February 7, 2011 IPO and other public statements, thereby inflating the value of the stock.

The Derivative Settlement resolves an action, Robert Andrzejczyk v. Antony Mitchell, et al., 15th Judicial Circuit of Florida Case No. 502012-CA-013286XXXXMB-AJ, filed by Imperial shareholders on behalf of Imperial. The Derivative Plaintiffs claim that Imperial was harmed by the acts of the Derivative Defendants when they allegedly breached their fiduciary duties by knowingly or recklessly approving the Company’s improper practices in the operation of the Company’s core premium financing business, failing to oversee in good faith the Company’s operational and internal controls including compliance with all applicable laws, and knowingly or recklessly ignoring red flags that would have alerted them to the violations of law. The Derivative Plaintiffs also claim that Defendants’ alleged misconduct has caused severe and irreparable injury and damages to the Company, particularly, reputational damage to the Company including damage to the price of the common stock, costs, fees and expenses incurred in connection with the various investigations, the $8 million penalty paid to various federal agencies, the revenue lost and expenses incurred (including the write down in the value of the policies still owned by the Company) as a result of the termination of the Company’s premium finance business; and the costs, fees and expenses incurred in connection with the Securities Class Action.

What Are My Options?

Please consult the Notice for more details on your options.

Fairness Hearings

Pursuant to the Securities Settlement Hearing held on December 16, 2013, the Securities Court granted final approval.

Pursuant to the Derivative Settlement Hearing held on December 17, 2013, the Derivative Court granted final approval.





Important Dates
DateDeadline
January 15, 2014
[Expired]
Claim Form Deadline
Securities Settlement Only
(postmarked)
November 25, 2013
[Expired]
Exclusion Deadline
Securities Settlement Only
(received)
November 25, 2013
[Expired]
Objection Deadline
Securities and Derivative Settlements
(filed and received)
December 16, 2013
at 9:00 a.m.
[Approved]
Settlement Fairness Hearing for the Securities Settlement
December 17, 2013
at 9:30 a.m.
[Approved]
Settlement Fairness Hearing for the Derivative Settlement

For More Information

  • Please consult the Notice for more information on the Securities Settlement and the Derivative Settlement.