Emergent Capital Reports Conclusion Of Investigation By U.S. Attorney's Office

(RTTNews) - Emergent Capital Inc. (EMG) said that the United States Attorney's Office for the District of New Hampshire or "USAO" has concluded its investigation into former company employees that commenced in 2011 and was the subject of the April 30, 2012 Non-Prosecution Agreement or "NPA" between Imperial Holdings, Inc., now Emergent Capital, and the USAO.

In a letter sent to Emergent Capital dated December 31, 2015, the United States Attorney's Office confirmed that Emergent Capital has fully complied with the NPA, and that all obligations imposed on Emergent Capital by the NPA have terminated.

The USAO filed civil forfeiture claims with respect to compensation received by certain former employees. Without admitting any of the USAO's allegations, the former employees resolved the civil forfeiture actions for amounts totaling $6.5 million, and were indemnified by Emergent Capital. As the USAO has concluded its investigation, Emergent Capital will have no further third party indemnification obligations in this matter.

"We are very pleased that the U.S. Attorney's Office has closed the investigation and that our indemnification responsibilities have ended," said Phillip Goldstein, Chairman of Emergent Capital.

Antony Mitchell, CEO of Emergent Capital, commented,"The conclusion of the investigation is expected to result in a substantial reduction in our legal costs going forward. This should have a very positive, immediate and ongoing impact on our cash flows."