Case Page

 

Case Status:    SETTLED
On or around 12/16/2013 (Ongoing date of last review)

Filing Date: October 25, 2011

According to a complaint filed as a removal from state court, the defendants violated federal securities laws in connection with allegedly false statements surrounding the Company’s initial public offering.

On February 8, 2011, the Company filed its registration statement for its IPO. The Plaintiffs allege that the registration statement failed to contain statements concerning the Company’s improprieties within it life insurance business and that it and some of the individual defendants were under investigation in the District of New Hampshire.

Subsequently, the FBI raided the Company’s Boca Raton offices pursuant to a search warrant issued by the U.S. Attorney’s Office in New Hampshire. On September 27, 2011, based on the news of the raid, the New York Stock Exchange halted trading of the Company’s shares.

On August 2, 2013, the parties filed a Stipulation of Settlement. The Settlement was preliminarily approved by the Court on August 6. On December 16, 2013, the Court issued an Order granting final approval of the Settlement and also approving attorneys' fees and expenses.

COMPANY INFORMATION:

Sector: Financial
Industry: Insurance (Miscellaneous)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: IFT
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. Florida
DOCKET #: 11-CV-81184
JUDGE: Hon.Kenneth A. Marra
DATE FILED: 10/25/2011
CLASS PERIOD START: 02/07/2011
CLASS PERIOD END: 09/27/2011
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Dyer & Berens LLP
    303 East 17th Avenue, Suite 300, Dyer & Berens LLP, CO 80203
    303.861.1764 303.861.1764 ·
  2. Holzer Holzer & Fistel, LLC (Atlanta)
    200 Ashford Center North, Suite 300, Holzer Holzer & Fistel, LLC (Atlanta), GA 30338
    770.392.0090 770.392.0090 ·
  3. Lerach Coughlin Stoia Geller Rudman & Robbins LLP (Boca Raton, FL)
    120 East Palmetto Park Road, Suite 500, Lerach Coughlin Stoia Geller Rudman & Robbins LLP (Boca Raton, FL), FL 33433
    561.750.3000 561.750.3000 ·
No Document Title Filing Date