Imperial Holdings Shareholders Request Special Meeting; Opportunity Partners Suing to Compel Meeting
Imperial Holdings, Inc. (NYSE: IFT) ("Imperial" or the "Company"), a specialty finance company with a focus on providing liquidity solutions to owners of illiquid financial assets, announced today that Opportunity Partners, L.P., a shareholder who is suing the Company to compel an annual meeting of shareholders, delivered a demand to hold a special meeting of shareholders on behalf of shareholders representing at least 50% of the Company's outstanding common stock. The Company is considering the request in light of the best interests of all of its shareholders.
As previously reported, the Company was required to postpone its annual meeting of shareholders, which had been scheduled for May 17, 2012, due to the Company's inability to file an annual report on Form 10-K with the Securities and Exchange Commission. The Company continues to work diligently to file its Form 10-K and is committed to setting a new annual meeting date as soon as practicable. While the Company can give no assurances at this time, it is the Company's intention to hold its annual meeting by August 20, 2012.
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