Shareholder Seige Of Imperial Holdings Continues

Law360, New York (December 15, 2011, 3:36 PM EST) -- Beleaguered life insurance investor Imperial Holdings Inc. on Wednesday faced yet another proposed shareholder class action alleging securities act violations after its headquarters in Boca Raton, Fla., were raided by the FBI in September.

The latest lawsuit, filed by shareholder Norman Pondick, alleges Imperial, several of its executives and three underwriters violated three sections of the Securities Exchange Act by not honestly reflecting the state of the company at the time of its initial public offering in February.

The company's IPO registration statement, prospectus and prospectus...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.