by Structured Settlement Watchdog®
Despite an overwhelming supply of legitimate structured settlement resources that says the contrary, the Associated Press managed to "fluff its lines" February 8, 2011, in its description of Imperial Holdings. To wit… "The Boca Raton, Fla company provides…and turns lump sum cash settlements from lawsuits into a stream of monthly payments". (emphasis ours) It's actually the other way around. Imperial Structured Settlements offers cash to structured settlement annuitants in exchange for the transfer of the annuitant's rights to receive future payments.
The Associated Press inaccuracies were published in Bloomberg Business week in its BW extras section, Forbes and other media outlets.
Bandell Needs Band Aid
In a related story also published February 8, 2011, the South Florida Business Journal's Brian Bandell stated "the company (Imperial Holdings) is also involved in the structured settlement business, which involves a plaintiff settling a lawsuit in exchange for periodic payments over time". Had Bandell simply read the website for Imperial Structured Settlements he'd have been able to report more accurately. Imperial is a "cash now" pusher or settlement payment purchaser.
Unfortunately the South Florida media beat continues to add to its track record of shambolic reporting when it comes to structured settlements. Most notable was the Scott Rothstein Ponzi being mischaracterized by the South Florida Press. As recently as August 16, 2010 , the South Florida Journal stated "Structured settlements have been in the news in South Florida during the past year because Ponzi schemer Scott Rothstein's $1.4 billion con was based on non-existent structured settlements". That is total B.S. The Scott Rothstein criminal complaint contained nothing about structured settlements! Our Scott Rothstein Ponzi coverage
It doesn't take much to discover the truth about structured settlements.
That being said, the Imperial Holdings IPO was oversubscribed, which bodes well for other structured settlement factoring entities who might be contemplating IPOs. Clearly there is a large demand for shares of institutions that charge among the highest discount rates to selling tort victims.
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