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Monday, May 27, 2024 | Back issues
Courthouse News Service Courthouse News Service

FBI Raid

PALM BEACH - Shareholders claim in a class action that their stock value was devastated when the (nonparty) FBI raided Imperial Holdings' office on Sept. 27, knocking the share price from $6.30 to $2.19.

Imperial describes itself as a "specialty finance company providing liquidity solutions with a focus on individual life insurance policies and purchasing structured settlement payments," the company said in a statement announcing the raid, which is cited in the complaint.

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