ADVFN - Advanced Financial Network.
HOME» NASDAQ » L » LPHI Stock Price » LPHI Stock News

Life Partners Holdings Share News

 Life Partners Holdings (mm) Stock Price
LPHI Stock Price
 Life Partners Holdings (mm) Stock Chart
LPHI Stock Chart
 Life Partners Holdings (mm) Stock News
LPHI Stock News
 Life Partners Holdings (mm) Company Information
LPHI Company Information
 Life Partners Holdings (mm) Stock Trades
LPHI Stock Trades

Life Partners Discloses It Received Amended SEC Wells Notice

DOW JONES NEWSWIRES Life Partners Holdings Inc. (LPHI) on Monday disclosed it received an amended notice from the Securities and Exchange Commission that the agency's staff will recommend civil action against the company and three of its officers. Last month, Life Partners had disclosed it received a so-called Wells notice from the SEC stating that the staff would recommend civil action against the company and two executives -- Chief Executive Brian D. Pardo and General Counsel R. Scott Peden. The expanded Wells notice includes Chief Financial Officer David M. Martin. Shares of Life Partners, which participates in the secondary market for life insurance, slid as low as 3.6% to $3.76 in after-hours trading, but were recently even at $3.90. The company has said the potential SEC action concerns the accuracy of a key part of the investment equation for its retail investors: the company's estimates of the life expectancies of those whose policies they were buying. The shorter the estimated life expectancy of the insured person, the more money the retail investors could expect to make. On Monday, Life Partners disclose the expanded notice also includes allegations about the disclosures regarding some accounting policies and practices, including revenue recognition, impairments of settlements held by the company for investment, and the stated policy for premium advances Life Partners might make on some client policies. A Wells notice gives potential targets of SEC action time to present a counterargument before any final SEC decision is made. -By John Kell, Dow Jones Newswires; 212-416-2480; [email protected]

Stock News for Life Partners Holdings (LPHI)
01/26/201711:02:10Current Report Filing (8-k)
12/15/201617:30:10Current Report Filing (8-k)
11/21/201616:57:09Current Report Filing (8-k)
11/07/201617:37:41Current Report Filing (8-k)
10/20/201617:16:50Current Report Filing (8-k)
10/17/201613:12:30Notification That Quarterly Report Will Be Submitted Late (nt...
09/20/201616:54:31Current Report Filing (8-k)
08/19/201617:14:32Current Report Filing (8-k)
07/20/201617:03:35Current Report Filing (8-k)
07/18/201614:08:00Notification That Quarterly Report Will Be Submitted Late (nt...
06/20/201617:17:49Current Report Filing (8-k)
05/31/201616:34:01Notification That Annual Report Will Be Submitted Late (nt 10-k)
05/20/201617:26:05Current Report Filing (8-k)
04/28/201616:05:14Current Report Filing (8-k)
04/21/201606:04:08Current Report Filing (8-k)
03/14/201614:54:25Current Report Filing (8-k)

Life Partners Holdings and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations