Exhibit 99.1
Emergent Capital, Inc. Announces Lawsuit Challenging Bylaw Dismissed
BOCA RATON, Fla., September 11, 2015 – Emergent Capital, Inc., formerly known as Imperial Holdings, Inc. (NYSE: EMG) (the “Company”), announced today the lead plaintiff’s dismissal with prejudice of a shareholder lawsuit against the Company and its directors brought in the United States District Court for the Southern District of Florida, Case No. 15-CV-80505. Among other things, the suit challenged the board’s adoption of a bylaw requiring a shareholder to obtain the consent of holders of 3% of the Company’s outstanding shares before bringing a claim on behalf of other shareholders in a class action or on behalf of the Company in a derivative action. The court’s dismissal order is attached.
The lead plaintiff in the lawsuit stated: “Although I have doubts about the benefit of the bylaw, after further investigation and the opportunity to meet with representatives of the board of directors, I now believe that they acted in good faith and did not engage in any improper behavior in adopting the bylaw or otherwise. Consequently, I have concluded that it is in the best interest of the Company and its shareholders that the case be dismissed.”
About Emergent Capital, Inc.
Emergent Capital (NYSE: EMG) is a specialty finance company that invests in esoteric asset classes, primarily life settlements. More information about Emergent can be found atwww.emergentcapital.com.
Safe Harbor Statement
This press release may contain certain “forward-looking statements” relating to the business of Emergent Capital, Inc. and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, and involve known and unknown risks and uncertainties. Although Emergent believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Emergent does not assume a duty to update these forward-looking statements.
Company Contact:
David Sasso
Emergent Capital, Inc.
Senior Vice President, Corporate Development & Investor Relations
561.995.4300
IR@emergentcapital.com
www.emergentcapital.com
Media Contacts:
Richard Anderson/Henry Feintuch
Feintuch Communications
718.986-1596 / 212.808.4901
emergentcaptial@feintuchpr.com
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