December 16, 2013 - The court held a final settlement hearing, approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.
February 24, 2012 - Lead plaintiffs and lead counsel were appointed and all cases were consolidated.

January 17, 2012 - Lead plaintiff motions were filed.

December 14, 2011 - Another investor filed a complaint in the U.S. District Court for the Southern District of Florida on behalf of investors who purchased Imperial Holdings Inc (NYSE: IFT) common shares between February 7, 2011 through September 27, 2011.

September 29, 2011 - An investor in shares of Imperial Holdings Inc (NYSE: IFT) shares filed a lawsuit in 15th Judicial Circuit for Palm Beach, FL against Imperial Holdings Inc over alleged violations of Federal Securities Laws.

According to the complaint the plaintiff alleges on behalf of all persons, who purchased the common stock of Imperial Holdings Inc pursuant and/or traceable to Imperial Holdings Inc’s initial public offering on or about February 7, 2011 through September 27, 2011, that Imperial Holdings Inc and certain of its officers and directors violated the Securities Act of 1933.

Imperial Holdings Inc is a company that purports to make lump-sum payments on legal settlements and life insurance policies.

In early February, 2011 Imperial Holdings Inc filed with the U.S. Securities and Exchange Commission (“SEC”) the Registration Statement and Prospectus. It raised $179.2 million in the initial public offering (“IPO”), selling over 16.66 million IFT shares to the public at $10.75 per share.

However, the plaintiff claims that the Registration Statement and Prospectus were negligently prepared and, as a result, contained untrue statements of material facts, omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation.

Imperial Holdings Inc’s annual Revenue rose from $29.93million in 07 to $96.61million in 09, but then fell in 2010 to $76.90million. Its annual Net Income fell from a Net Income in 07 of $2.02million to a Net Loss of $8.64million in 09 and a Net Loss of $15.70million in 2010.

Over the next months shares of Imperial Holdings Inc (NYSE: IFT) traded at roughly $10.

On August 11, 2011 Imperial Holdings Inc announced its Second Quarter 2011 Results. Imperial Holdings Inc said that during the second quarter of 2011, Imperial Holdings Inc reported total revenue of $29.2 million, compared to second quarter 2010 revenue of $20.6 million and that its Income before taxes was $13.8 million in the second quarter compared to a loss of $2.1 million during the same period last year.

Furthermore Imperial Holdings Inc said that for the first six months of 2011, it reported total revenue of $54.1 million, compared to revenue of $40.4 million for the first six months of 2010 and its Net Income before taxes was $21.2 million for the first six months of 2011 compared to a loss of $9.6 million during the same period last year.

Despite those announcements NYSE: IFT shares began to lose value and dropped from slightly below $10 in the beginning of August 2011 to $6.52 on September 20, 2011.

Then on September 27, 2011, after the market closed Imperial Holdings Inc (NYSE: IFT) announced that it was served with a search warrant issued by a Magistrate Judge for the U.S. District Court in the Southern District of Florida. Imperial Holdings Inc said it understands that the company 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.

The same day Federal investigators raided the Florida offices of Imperial Holdings Inc, the FBI said.

Local media were among the first to report the raid. One media outlet reported that FBI agents appeared to be gathering evidence inside Imperial Holdings Inc's offices, and pictures on its website showed agents leaving the building. Another media outlet said an agent leaving the building said he was working for the U.S. Treasury.
Following the news about the Federal Raid shares of Imperial Holdings Inc (NYSE: IFT) fell from $6.30 per share on September 27 to a close of $2.19 on September 28, 2011.