Texas Watchdog Sues Life Partners Over Subpoenas

Law360, New York (July 29, 2011, 5:00 PM EDT) -- The Texas securities commissioner on Thursday sued Life Partners Holdings Inc. for failing to comply with subpoenas in an investigation arising from claims that the company duped investors into buying securities using faulty life expectancy data.

Commissioner Benette L. Zivley's suit asks the court to order Life Partners, CEO Brian Pardo and general counsel R. Scott Peden to comply with the subpoenas, which require the company to provide records related to its marketing and sale of investments in life settlements.

Life Partners has been the subject...
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