Impac Mortgage Holding Inc.

Irvine, CA: (Apr-24-07) A federal lawsuit filed against Impac Mortgage Holding Inc., a mortgage real estate investment trust, over federal and state derivative actions, reached settlement, dismissing all claims asserted against Impac's officers and directors, without prejudice. Impac did not admit to any wrongdoing, but agreed to pay up to $300,000 in legal fees as well as agreed to certain corporate governance practices. The payment will be made by Impac's insurance carriers and will have no effect on the company's financial position. [BUSINESS WEEK: IMPAC]

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Published on Apr-27-07