Key Developments: Life Partners Holdings Inc (LPHI.O)

LPHI.O on Nasdaq

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18 Mar 2015
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Latest Key Developments (Source: Significant Developments)

Life Partners Holdings Inc announces management changes - Form 8-K
Monday, 23 Feb 2015 06:02am EST 

Life Partners Holdings Inc:Says on Feb. 18, Brian D. Pardo resigned as President, Chief Executive Officer and Chairman of the Board of Life Partners Holdings, Inc.Appointed Colette Pieper as Acting President, Chief Executive Officer, Treasurer and Secretary of the Company, and she will also serve as Acting Chief Executive Officer of all subsidiaries of the Company in addition to her continuing role as Chief Financial Officer of the Company.  Full Article

Life Partners Holdings files for Chapter 11 bankruptcy protection
Tuesday, 20 Jan 2015 01:30pm EST 

Life Partners Holdings, Inc:Files voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Texas on Jan. 20.  Full Article

Life Partners Holdings Inc announces quarterly dividend
Tuesday, 2 Sep 2014 04:02pm EDT 

Life Partners Holdings Inc:Says it would pay quarterly dividend of $0.05 per share to be paid on or about Sept. 17 for shareholders of record as of Sept. 15.  Full Article

Life Partners Holdings Inc announces quarterly dividend
Wednesday, 28 May 2014 10:00am EDT 

Life Partners Holdings Inc:Says it would pay quarterly dividend of $0.05 per share to be paid on or about June 16 for shareholders of record as of June 9.  Full Article

Life Partners Holdings Inc wins another court ruling
Wednesday, 23 Apr 2014 11:18am EDT 

Life Partners Holdings Inc:Says an Austin, Texas Federal court has denied the Securities and Exchange Commission's motion for reconsideration of the Court's prior order, which held that the SEC failed to prove any of its fraud claims against Life Partners and its CEO, Brian Pardo, and General Counsel, Scott Peden.That ruling, along with jury findings in Feb, cleared Life Partners, Pardo and Peden of all securities fraud and insider trading accusations.The ruling does not affect the jury's findings against Life Partners relating to books and records compliance issues and certification by the CEO on the company's financial statements, none of which involve fraud or knowingly or recklessly misleading shareholders.The case is SEC v. Life Partners Holdings, Inc. et al., Civil Action No. 1-12-C V-33-JRN in the United States District Court for the Western District of Texas, Austin Division.  Full Article

Life Partners Holdings Inc sues Charles Schwab subsidiary for Counterfeiting
Tuesday, 15 Apr 2014 03:40pm EDT 

Life Partners Holdings Inc:Files suit against optionsXpress, Inc., a subsidiary of The Charles Schwab Corporation, company's Chief Financial Officer, and one of company's customers for issuing and selling counterfeit shares of Life Partners Holdings stock.Lawsuit, filed in Illinois by California attorney Gary Aguirre, whose practice focuses on market manipulation, ask Court fo order preventing Schwab subsidiary from creating and selling shares of Life Partners Holdings' stock which were not authorized by company.Action also asks Court for protection from securities fraud, deceptive business practices and civil conspiracy arising from the unlawful issuance of counterfeit shares.Under law of Illinois, Texas, and every other state, a company has exclusive right to issue and sell own stock.Creation and sale of counterfeit or phantom stock by brokers and their customers violates these laws.Lawsuit is based on findings in administrative proceeding by U.S. Securities and Exchange Commission against optionsXpress and other defendants which concluded that optionsXpress, its chief financial officer, and one of biggest customers committed securities fraud.Says by engaging in sales of hundreds of millions of dollars in counterfeit-phantom stock passed off as genuine stock of 25 public companies, including almost $5.5 mln of counterfeit-phantom stock of Life Partners Holdings Inc.  Full Article

Life Partners Holdings Inc announces quarterly dividend
Tuesday, 4 Mar 2014 09:41am EST 

Life Partners Holdings Inc:Declared a quarterly dividend of $0.05 per share.Payable on March 18, for shareholders of record as of March 14.  Full Article

Jury delivers mixed verdict on U.S. SEC case against Life Partners Holdings Inc - Reuters
Tuesday, 4 Feb 2014 03:55pm EST 

Life Partners Holdings Inc:Life Partners Holdings Inc and its executives were cleared by a jury on eight of 12 civil securities violations, including some fraud charges, dealing U.S. regulators another mixed ruling as they step up efforts to take cases to trial - Reuters.The U.S. Securities and Exchange Commission had sought to prove that the Texas-based company, intentionally misled investors over nearly four years about core aspects of its business and that its two top executives engaged in insider trading.The jury found that the company, its chief executive officer and its general counsel committed fraud when they filed misleading statements about Life Partners' revenue recognition policies in two months in 2007.It also sided with the SEC on less severe charges involving bookkeeping, reporting and certification by the CEO on the company's financial statements.But the jury dismissed the SEC's more sweeping allegations of fraud in connection with data the company published about its life insurance investment products, and also determined the executives did not illegally trade on inside information.  Full Article

Life Partners Holdings Inc announces quarterly dividend
Tuesday, 17 Dec 2013 10:58am EST 

Life Partners Holdings Inc:Declares a quarterly dividend of $0.05 per share to be paid on or about Jan. 3, 2014 for shareholders of record as of Dec. 30.  Full Article

Plaintiffs dismiss lawsuit against Life Partners Holdings Inc
Tuesday, 3 Dec 2013 02:03pm EST 

Life Partners Holdings Inc:Says that the Plaintiffs have voluntarily dismissed a lawsuit filed against the company as well as its operating subsidiary, Life Partners, Inc. and two corporate officers.Says the abandonment of the lawsuit comes after the United States District Court for the Northern District of Texas denied a motion for class certification in the lawsuit.  Full Article

Life Partners Holdings files for bankruptcy

- Life Partners Holdings Inc, which deals in the secondary market for life insurance, said it filed for bankruptcy on Tuesday as it pursues an appeal of a $46 million judgment against it and two executives over misleading investors about the core aspects of its business.

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