Impac Mortgage preferred amendment declared invalid by court

Chicago, July 15 – Impac Mortgage Holdings, Inc. reported that its filing of articles of amendment in 2009 relating to the company’s 9.375% series B cumulative redeemable preferred stock issued in 2004 has been declared invalid, according to an 8-K filed with the Securities and Exchange Commission on Friday.

The amendment and restatement failed to receive the requisite stockholder approval at the time.

The determination comes from the court case Curtis J. Timm, et al v Impac Mortgage Holdings, Inc., et al.

As a result, the company has filed a certificate of correction to the articles of amendment on Thursday.

Impac is an Irvine, Calif. mortgage and warehouse lender.

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