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Life Partners Holdings, Inc. Message Board

  • txbusinessnut txbusinessnut Feb 5, 2013 9:00 AM Flag

    US Western District Court Docket 02/05/2013

    SECURITIES AND EXCHANGE COMMISSION vs. LIFE PARTNERS HOLDINGS, INC. / PARDO PEDEN / MARTIN
    pretrial conference today (02/05/2013) in U.S. District Court Judge James Nowlin's courtroom with the docket reflecting Securities Fraud.

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    • Don't forget the insider trading claim the SEC threw in there. Is it looking to you like a September trial date? This could be wrapped up by Turkey Day. We can't forget all the other civil suits since they are also moving along through the courts. The wheels of justice are turning slowly, but will grind exceedingly fine verdicts.

      Now that 21st Services dropped their LE bomb, does this mean Life Partners engaged in insider trading when they sold all those policies? I wonder if LPI had advance notice that changes in the 21st LE methodology were coming. I also wonder if the auditor is checking to see if the premiums paid by fractional investors actually made it all the way to the insurance companies.

      • 2 Replies to ericcartman69u
      • Hey South Park, I doubt anyone had advance notice that 21st was going to do what they did. But since they have, on the same week many of those funds to buy LPI resales and fractionals were launched, theyd better get updated LEs before they plow the investors monies.
        BTW, yep, you have to follow the $$ all of the way.
        Makes me wonder, how do they send out Premium Calls twice in the same year on the same policy and demand a response in 14days? 8-9 months apart. Hmmm

      • LPI did get a partial win yesterday, when a judge suggested she would not likely allow a class action status to one of the civil suits believing the claims were too individualized. How the allegation of artificially shortening LEs on each policy purchased makes claims individualized is beyone me. So now there will be many more suits should one plaintiff win, but it may not be practicable for all plaintiffs to sue until that win comes. I doubt this will happen outside of Texas where class action status should not be a problem. Either way, the suits continue to roll forward.

 
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