Imperial Holdings, Inc. (NYSE:IFT) Shares Crash After Disclosure of Federal Investigation

Shares of Imperial Holdings, Inc. (NYSE:IFT) crashed today to close at $2.19 per share, down 65%.  Yesterday, the company’s Boca Raton offices subsidiary Imperial Finance were raided by federal authorities.  Also, it is being reported that two of the company’s underwriters from its IPO earlier this years suspended or downgraded their ratings.