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Impac Mortgage Holdings Inc. Message Board

  • woodstock30188 woodstock30188 Nov 15, 2012 4:11 PM Flag

    Are there any more pending litigations?

    I see that the loss for 3rd quarter was due mainly to the write down of $9 million in Disco Ops. I believe they are clear of any further "legacy" lawsuits now, but if someone has valid information otherwise, please let us all know.

    "Discontinued Operations

    � Loss from discontinued operations, net of tax, was $9.0 million for the three months ended September 30, 2012, compared to a loss of $1.5 million for the comparable 2011 period primarily due to the $6.1 million legal settlement charge recorded for the intended settlement of two of the Company's remaining legacy lawsuits and a $1.8 million increase in the repurchase provision related to the discontinued mortgage operations conducted by IFC."

    Sentiment: Buy

 
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