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Sign in / Join NowSummaryImpac unilaterally and illegally changed the terms of the Preferreds (IMPHP, IMPHO), thereby stripping them of all rights, dividends, and value.Impac needed a 2/3 vote of approval from shareholders for consent to these changes.To this day, Impac has failed to produce a single signed consent.The judge decision should soon be forthcoming.Damages to preferred shareholders exceed $100 million.There seems to be some confusion regarding the details surrounding the Timm vs Impac case. Based upon analysis of the evidence, I believe there is inherent value in the preferred shares which approximates 5x their current market prices. Much of the information listed below details the essence of the Plaintiff's case against Impac.

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