Life Partners Responds to SEC Lawsuit
Life Partners Holdings, Inc. (NASDAQ: LPHI) responded today to notice that a lawsuit has been filed against it by the Securities and Exchange Commission. The Company believes the action is without merit and will vigorously defend itself and its officers.
Life Partners' Chairman, Brian Pardo, stated, “It is very disappointing that the SEC has chosen to pursue litigation over issues that we believe have no merit and financial presentation issues that we do not believe are material. We have always done our best to deliver value to our shareholders and to run an honest and transparent company. We intend to vigorously defend ourselves against these meritless claims.”
The lawsuit targeted Life Partners Holdings, Inc. and certain of its officers, but no claims were filed against the company's operating subsidiary, Life Partners, Inc., and the action has no effect on any of Life Partners, Inc.'s transactions or clients.
