A California federal court granted a motion to dismiss consolidated class-action lawsuits against Irvine-based lender Impac Mortgage Holdings, the company said in a filing today.
Beginning in Jan. 2006, shareholders brought lawsuits against Impac and some of its senior officers and board directors, claiming the executives withheld negative news about Impac’s finances as they sold stock at artificially inflated prices, reports the Associated Press.
Plaintiffs can file an amended suit within 20 days. Impac said it will continue to defend itself against any amended complaint.
To see the SEC filing, CLICK HERE.
Does this mean Gretchen will be back on Monday?
So what is the company doing now that it has halted most of their lending-wholesale & conduit and closed the warehouse and
commerical divisions? How many employees are still working there?
Their web site still indicates business as usual. Matt-give us an
updated interview with Joe T. Why doesn’t Bill A. give any interviews?
And what about their deal with Pinnacle. Rumour has it that they didn’t buy all of their retail platform, just a percentage??