Market Currents

Life Partners Holdings (LPHI) responds to the Texas Attorney General, saying they "deny the...

Thursday, August 16, 2012, 6:47 PM ET
Life Partners Holdings (LPHI) responds to the Texas Attorney General, saying they "deny the allegations in the strongest possible terms." The Texas AG filed suit against Life Partners and its officers, alleging it made various misrepresentations about the life expectancies of the insureds. The suit seeks a temporary restraining order and appointment of receiver based generally on allegations that Life Partners' life settlements are securities under Texas law. Shares -5% AH.

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This news story has 8 comments:

jackserv Comments (4)

I have 3 contracts and they are over twice the length to settlement that LPHI projected when they were sold to me. Not only did it they eat the premium escrow but I have been making annual and semi-annual payments for an extra 3 YEARS and they are still going.

I think Greg Abbott (AG) is an honorable man.

17 Aug 2012, 02:32 AM Reply Like

Delstuff Comment (1)

I have 7 contracts, I was so convinced this was a good investment at the time. All 7 are approaching the length to settlement that LPHI projected and I don't have the cash to make any future payments. Wish there were some legal recourse.

17 Aug 2012, 09:25 AM Reply Like

jackserv Comments (4)

3 years of extra premiums on 3 contracts has not been a cakewalk. It's either pay up or default. Somewhere I read of multiple class-action lawsuits. I need to find and join I guess.
I am worried that I will expire before these ever settle.
Thank goodness policies are held by a third party for safekeeping.

18 Aug 2012, 03:21 PM Reply Like

gjasick Comments (115)

Have either of you considered hiring a hitman? Lol

17 Aug 2012, 08:51 PM Reply Like

jackserv Comments (4)

Maybe his bud Rick Hairy could do an inside number on him.

18 Aug 2012, 03:20 PM Reply Like

gbarker Comments (3)

I've got stock in this company. Dividend Announcement
8/8/2012
Ex-Date
8/29/2012 Yield
20.41%
Can,t beat that Sure some people live longer then others but that's the risk you take with this contract.

20 Aug 2012, 01:39 AM Reply Like

Harry Beck Comments (185)

The stock is down more than 80% in the ttm. I think the dividend is only one part of a total return calculation.

21 Aug 2012, 08:42 AM Reply Like

jackserv Comments (4)

Best of luck with them maintaining the dividends. It will probably be the last thing to go as CEO can fund his off-shore almost $1mm/quarter.
I bought their contracts based on similar yield projections, not expecting their bogus maturity dates to double or triple.

20 Aug 2012, 09:38 AM Reply Like

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