Martin J. Fuller, individually and on behalf of all others similarly situated v. Imperial Holdings, et al.
Published: Dec. 7, 2013 | Result Date: Aug. 2, 2013 | Filing Date: Jan. 1, 1900 |Case number: 9:11-cv-81184-KAM Settlement – $12,000,000
Court
USDC Florida
Attorneys
Plaintiff
Joseph E. White III
(Saxena White PA)
Samuel H. Rudman
(Robbins, Geller, Rudman & Dowd LLP)
Paul J. Geller
(Robbins, Geller, Rudman & Dowd LLP)
Stuart A. Davidson
(Robbins Geller Rudman & Dowd LLP)
Michael I. Fistel Jr.
(Johnson Fistel LLP)
Mario Alba Jr.
(Robbins, Geller, Rudman and Dowd LLP)
Lionel Z. Glancy
(Glancy, Prongay & Murray LLP)
Defendant
Facts
Martin Fuller sued Imperial Holdings alleging violations of the Securities Act of 1933. This lawsuit was consolidated with another lawsuit that asserted virtually identical claims (derivative action claim).
Contentions
PLAINTIFFS' CONTENTIONS:
Plaintiffs contended that defendant violated the Act by making misrepresentations or omissions of material facts in the Registration Statement and Prospectus filed in connection with the company's initial public offering on Feb. 7, 2011. As a result of defendant's misrepresentations, it inflated the value of the company's stock.
Result
The parties reached a settlement in the total amount of $12 million.
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