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October 23, 2010

RSL Funding "Bitch Slaps" Imperial Holdings, LLC in Latest Press Release

by Structured Settlement Watchdog®

There's trouble in the structured settlement factoring industry "sandbox" as RSL Funding issued a press release on October 13, 2010,  referring to the Imperial Holdings,LLC Initial Public Offering as a "Repeat of the Dot.com bust" and stated the stock was "overvalued".

RSL accuses Imperial Holdings of "seeking to cash out at the peak" and publishing a prospectus (for the IPO) that " ignores that rates have drastically fallen since 2008"

Then, in a blog post dated October 18, 2010, RSL Funding observes that Imperial stated in its SEC filing, that “at certain points, we (they) were unable to get any debt financing”. RSL Funding goes on to state that this "alone should worry investors, but the company’s inflated value, based on interest rates from 2008 and 2009, should make attracting backers difficult.

RSL goes on to state that "Imperial, formerly known as Washington Square Financial, LLC, has been filing lawsuits against competitors who offer lower rates to Imperial customers for their structured settlements"

 The structured settlement watchdog even observes some humor in the RSL press release where it states:

"It is well known among structured settlement factoring companies, as those businesses acquiring structured settlements are known, that discount rates charged to customers this year have fallen drastically, making Imperial's business model a dinosaur of sorts". The thing is that as of October 23, 2010, at 11:30am EDT, the link to "Imperial's business model goes to the RSL Funding website!

 Dino_trish_hula_hooping_md_clr Dinosaur business "model"?

 

Imperial Holdings is invited to explain the "lawsuits against competitors who offer lower interest rates to Imperial customers for their structured settlements"

Footnotes:

Urban Dictionary Definition of "Bitch Slap"

Posted at 11:21 AM in DRB Capital/Imperial Structured Settlements | Critical Commentary, Factoring Company Bad Business Practices, Imperial Holdings, Inc., RSL Funding, Structured Settlement Watchdog® |

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