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Imperial Holdings
IFT announced today it and all other
relevant parties have executed a non-binding term sheet to settle the
shareholder class action lawsuits and derivative demands instituted
against the Company and certain of its current and former directors and
officers.
The proposed settlement terms, while non-binding and subject to certain
contingencies, provide for the resolution of all of the class action
lawsuits and derivative actions. As contemplated, the class action
settlement would include a cash payment by Imperial to the class of $12
million, $11 million of which is to
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