Life Partners Insurance received a favorable court ruling recently and shares popped more than 100%. Great, missed that move. But, it just pulled back to $2 from $4, making this a nice entry point if you believe in the company and feel insurance companies will benefit from a new president in office. You be the judge.
Court Rules in Favor of Life Partners
Life Partners Holdings, Inc. (Nasdaq GS: LPHI), parent company of Life Partners, Inc., announced today that Travis County District Judge Stephen Yelenosky ruled that the life settlement transactions that it facilitates are not securities under Texas law.
Life Partners CEO, Brian Pardo, expressed gratitude for the integrity of the judicial system. “The Attorney General brought this case knowing that both a Federal Court of Appeals and a Texas appeals court have ruled specifically that Life Partners’ life settlements are not securities. The Attorney General has issued inflammatory press releases and used this suit as a vehicle to make baseless claims of fraud, insolvency and a lack of regulation. None of that is true. We have been in business for 20 years. We have facilitated over 143,000 purchaser transactions involving over 6,500 policies totaling over $3 billion in face value.”
