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Strategies & Market Trends : Value Investing
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To: Spekulatius who wrote (40530)5/13/2011 9:03:11 PM
From: Steve Felix  Read Replies (1) of 78702
 
Quite a call. Above $21 at the time, now sub $6.

< a shady business and could easily get into the regulators crosshairs >

12:48PM Life Partners Holdings discloses on May 9, 2011, they received a "Wells notice" from the staff of the SEC stating that the staff will recommend that the SEC bring a civil injunctive action against them (LPHI) 6.58 -0.46 : "As Life Partners Holdings previously disclosed, the SEC has been investigating our life settlement business. We have cooperated in the SEC's investigation and have provided information and testimony. On May 9, 2011, we received a "Wells notice" from the staff of the SEC stating that the staff will recommend that the SEC bring a civil injunctive action against us and two of our directors and executive officers, Brian D. Pardo and R. Scott Peden, for possible violations of Section 17(a) of the Securities Act of 1933, Sections 10(b) and 13(a) of the Securities Exchange Act of 1934, and certain rules thereunder. We understand at present that the primary basis for the proposed civil action relates to our knowledge of and disclosures about the accuracy of the estimates of the life expectancies of settlors... We intend to respond by setting forth our positions and explaining why we believe an enforcement action is not warranted."
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